Giving property investors a an unimpressive capital gain of -0.31% for the last year, Warrnambool, 3280 is the 2918th highest performer in Australia in this respect.
Comparing Warrnambool,3280 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Warrnambool 3280 should be seeing an average reduction in asking price of around -6.34% . This means that Warrnambool is holding prices well when compared to other suburbs in VIC.
If you compare the increase in value of investment property in Warrnambool, 3280 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was 0.38%.
A -0.39% growth in median value for property investors in Warrnambool,3280 puts this suburb at number 214th in terms of best performing suburbs in VIC
Sellers are offering property buyers an average discount of -7.32% to buyers in Warrnambool at the moment, which is less than average for the rest of VIC.
Warrnambool is 84th on a list of best yielding suburbs for rents in VIC with a 5.00% return
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.