If you compare the increase in value of investment property in Whittington, 3219 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 11.11%.
Whittington,3219 has offered an average of 11.11% return per annum in house price rises to property investors over the last three years.
The most recent median price for Whittington is $290000, with sellers offering an average of -4.20% off the asking price.
In the last year 56 properties changed hands in Whittington, which puts it as the 405th most active market in VIC when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $3540 per annum or $295 every week.
Property investors who have had real estate in Whittington, 3219 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 10.26%
If we look at median property appreciation over just the last three months, Whittington has given property investors a paper return of -2.27%. This puts Suburb as 306 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in Whittington should be aiming for at least -4.47% off the asking price, which is the average vendor discount being achieved at the moment.
Whittington is 14th on a list of best yielding suburbs for rents in VIC with a 6.05% return
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.