Wonthaggi is an average performer in VIC when comparing median price capital growth over the last year. Wonthaggi gave property investors a average capital gain figure when compared to the rest of the state, with 10.36%.
The five-year average increase in median property values for Wonthaggi,3995 has given property investors a potential capital gain of 28.75% across each of those five years.
Wonthaggi3995 is located in VIC which offers an average discount of -5.17% to property investors. Wonthaggi itself is showing figures that indicate -3.01% is the average achievable by property buyers investing in the suburb.
In the last year 153 properties changed hands in Wonthaggi, which puts it as the 156th most active market in VIC when comparing the number of sales per suburb.
Advertised rents are around the $270 mark per week – giving a return of 4.54% based on the median price in Suburb
Investment property in Wonthaggi has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 10.76%
When looking at the potential capital gains offered to property investors over the last 3 years, Wonthaggi comes in at number 136th in VIC.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.67% offered to property buyers. Sellers in Wonthaggi itself are offering an average vendor discount of -3.80% to real estate investors.
In the last year 42 properties changed hands in Wonthaggi, which puts it as the 201th most active market in VIC when comparing the number of sales per suburb.
Wonthaggi, 3995’s gross rental yield is 5.05%
Part of the biggest town in the South Gippsland region, the suburb of Wonthaggi is enjoying a great deal of attention from tenantsFull summary
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A tight fit for renters
Median unit price: $265,000
Vacancy rate: 0.5% (from 1.5%)
Three-year growth: 16.2%
Part of the biggest town in the South Gippsland region, the suburb of Wonthaggi is enjoying a great deal of attention from tenants.
The current vacancy rate is extremely tight, dropping from 1.5% in April 2017 to just 0.5% 12 months later. A vacancy rate between 2-3% indicates a balanced tenancy market, so Wonthaggi is experiencing a strong shortage of rental properties. This could spur competition among tenants, especially with the average rent for apartments being less than $300 a week. Returns remain quite high for landlords, at 5.3%.
A seaside town located roughly 130km south east of Melbourne, Wonthaggi’s commercial area thrives thanks to its tourist industry. The suburb is home to many parks, reserves and gardens, such as the Wonthaggi Wetlands Conservation Park. There are also restaurants, cafes and bars. The proximity of beaches is also a drawing card.Close