Warrnambool, 3280 ranked 621th in VIC when comparing growth in median property values or capital gain over the last 12 months. Warrnambool is one of 2098 in our list for VIC
Warrnambool,3280 was ranked 2573 in Australia by increase in median property value over the quarter.
At number 265th of VIC’s most discounted properties, Warrnambool is in the middle of the state/territory when listing in order of most discounted to least.
Warrnambool, 3280’s gross rental yield is 5.20%
At number 1388th in the list of Australian suburbs ordered by increase in median house value over the last year, Warrnambool, 3280 is in the BOTTOM 30% with a property value increase of -4.23% recorded in median house prices.
Over the longer term, Warrnambool has seen property prices show investors a -7.18% return over the last 3 years. This is an improvement over the last 12 months
At number 43th of VIC’s most discounted properties, Warrnambool is in the bottom 20% of the state/territory when listing in order of most discounted to least.
In the last year 107 properties changed hands in Warrnambool, which puts it as the 80th most active market in VIC when comparing the number of sales per suburb.
Located in the western corner of the Great Ocean Road, Warrnambool is becoming more than just a pretty tourist town, says PRDnationwide analyst Dan O’Halloran. Full summary
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Located in the western corner of the Great Ocean Road, Warrnambool is becoming more than just a pretty tourist town, says PRDnationwide analyst Dan O’Halloran.
“While a strong alliance with the more traditional dairy industry still remains well ingrained within the community, at present there is huge interest being shown to alternative energy projects in the surrounding Warrnambool area, with over $3.5bn worth of privately funded projects either developed or in the pipeline. This level of development is creating expanding employment and investment opportunities in the region and is sure to result in strong property returns in coming years,” he says.
“Warrnambool’s median unit sale price has remained strong, and highlights the growing demand for well positioned, low maintenance style dwellings in the suburb. Warrnambool’s unit market is set to perform well for inventors focused on the medium term.”
According to the city’s growth director Bill Millard, Warrnambool’s rate of annual population increase over the past five years of 1.8% compares well with other Victorian regional centres such as Ballarat (2%) and Bendigo (1.9%), while labour force growth over the past four years has reached an equally strong 3.4% – or 2,500 jobs.
Warrnambool’s unit market is currently dominated by good sized, single storey two-bedroom brick properties – often with a garage. There’s also a good selection of smaller, but more centrally located, two-bedroom apartments on offer. To give an example of the entry price, listings at the time of writing included a $149,000 two-bedroom, one-bathroom unit close to the St John of God Hospital – which offered a 5.7% gross yield.