Over the last year, property investments in Whittington, 3219 have given investors a capital gain of 11.54%. This compares averagely with the 10.43% for VIC as a whole.
Taking the average capital gain, or increase in median house value, Whittington,3219 has racked up an average of 11.54% over the period. This ranks it number 2204th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Whittington is offering property investors an average of -5.53. This rate of discount on properties puts Suburb at number 315th in terms of most discounted suburbs in VIC
Situated 64.46km from the CBD, Whittington is one of Greater Geelong localities in the postcode 3219.
Over the last year, property investments in Whittington, 3219 have given investors a capital gain of 26.84%. This compares very favourably with the 4.79% for VIC as a whole.
Whittington,3219 has offered an average of 26.84% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Whittington is giving property investors an average Vendor Discount of around -4.26%. This puts suburb at number 183th in VIC when ranking the most discounted suburbs.
A $250 per week rent on the median house gives suburb investors a gross yield of circa 6.05%, without taking into account capital value appreciation, which has been averaging out at 3.30%.
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.