Whittington, 3219 ranked 289th in VIC when comparing growth in median property values or capital gain over the last 12 months. Whittington is one of 2098 in our list for VIC
If we look at median property appreciation over just the last three months, Whittington has given property investors a paper return of 3.57%. This puts Suburb as 281 on a list of fastest fasting appreciating suburbs in VIC
Sellers are offering property buyers an average discount of -4.73% to buyers in Whittington at the moment, which is less than average for the rest of VIC.
Whittington, 3219’s gross rental yield is 5.29%
With a capital gain of 25.18% for the last 12 months, Whittington, 3219 has performed for property investments than its average annual 3.63% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Whittington has given property investors a paper return of 17.49%. This puts Suburb as 6 on a list of fastest fasting appreciating suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Whittington is offering property investors an average of -4.95. This rate of discount on properties puts Suburb at number 185th in terms of most discounted suburbs in VIC
Renters in Suburb are facing rents around $3000 per annum or $250 every week.
The Greater Geelong suburb of Whittington scores highly for growth potential, according to Redwerks research director Jeremy Sheppard.Full summary
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The unit market in Whittington on Geelong’s eastern fringe has not been enjoying a strong run in recent times.Close
With a median unit price of just $200,000, it may look like a prime place to grab a bargain, but investors shouldn’t be sucked in by that affordability.
Over the past 12 months the median price has fallen by 9%, with a drop of 6% over the past five years.
It doesn’t appear that buyers think Whittington is due for a change in circumstances either, with units spending 102 days on the market, on average. Vendors are also offering average discounts of 6%.
While investors in Whittington’s apartment market will be hoping for no further price falls, they are at least seeing strong rental yields of 6% at the moment.
However, the rental market may be in danger of deteriorating, with figures from Real Estate Investar showing its vacancy rate has grown from 0.56% to 1.06% over the past 12 months.