Suburb Profile Report for Wonthaggi VIC (3995)

Wonthaggi House: Median price $338,000, Annual capital growth 4.03%, Number of sales 128, Weekly median advertised rent $290

Wonthaggi Unit: Median price $306,500, Annual capital growth 4.53%, Number of sales 26, Weekly median advertised rent $280

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Wonthaggi, 3995 should be 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 16.75%

Wonthaggi,3995 was ranked 438 in Australia by increase in median property value over the quarter.

Vendor discounting in Wonthaggi is giving property investors an average Vendor Discount of around -3.07%. This puts suburb at number 549th in VIC when ranking the most discounted suburbs.

The VIC suburb of Wonthaggi, 3995 is in the Bass Coast (S) local government area.

Giving property investors a a solid capital gain of 18.80% for the last year, Wonthaggi, 3995 is the 96th highest performer in Australia in this respect.

Wonthaggi,3995 was ranked 82 in Australia by increase in median property value over the quarter.

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.13% offered to property buyers. Sellers in Wonthaggi itself are offering an average vendor discount of -3.41% to real estate investors.

At number 374 in a list of fastest selling suburbs, Wonthaggi is in the TOP 30% of suburbs in Australia with an average of days on market 53.33 for properties listed there.

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July 2018

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Part of the biggest town in the South Gippsland region, the suburb of Wonthaggi is enjoying a great deal of attention from tenantsFull summary

A tight fit for renters

Postcode: 3995

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
Metrics i HOUSE UNIT
$338,000 $306,500
5.63% 9.07%
16.75% 18.80%
4.03% 4.53%
$290 $280
128 26
4.46% 4.75%
55.38 53.33

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 4354
Median household income ($/weekly) 675
Median age of persons 48
Median housing loan repayment ($/monthly) 1192
Average household size 2.1
  • Census Count Percent(%)
    35-44 years 451 10.4
    45-54 years 545 12.5
    55-64 years 573 13.2
    65-74 years 559 12.8
    75-84 years 480 11.0
    Others 1746 40.1
    Age Group
    Census Count Percent(%)
    Not Married 1602 49.8
    Registered Married 1357 42.1
    Defacto Relationship 261 8.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 3467 84.9
    Japan 80 2.0
    Papua New Guinea 51 1.2
    United Kingdom 268 6.6
    Other 78 1.9
    Others 140 3.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 39 1.0
    Christianity 2679 68.4
    Islam 9 0.2
    Other Religious Groups 14 0.4
    No Religion 1162 29.7
    Others 12 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 280 16.6
    $400-$599 322 19.1
    $600-$799 217 12.8
    $800-$999 149 8.8
    $1,500-$1,999 134 7.9
    Others 587 34.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1695 49.9
    Employed, worked full-time 863 25.4
    Employed, worked part-time 619 18.2
    Employed, away from work 121 3.6
    Unemployed, looking for work 101 3.0
    Person Characteristics
  • Census Count Percent(%)
    Professionals 184 11.5
    Technicians & trades workers 261 16.3
    Community & personal service workers 192 12.0
    Sales 200 12.5
    Labourers 319 19.9
    Others 444 27.8
    Occupation
    Census Count Percent(%)
    Pre-school 53 7.1
    Infants/Primary 265 35.6
    Secondary 271 36.4
    Technical or Further Educational Institution 77 10.3
    University or other Tertiary Institutions 44 5.9
    Others 35 4.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3315 84.0
    Semi-detached, row or terrace house, townhouse 322 8.2
    Flat, unit or apartment 283 7.2
    Caravan, cabin, houseboat 24 0.6
    House or flat attached to a shop, office 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 802 44.4
    Rented 597 33.0
    Being purchased 395 21.9
    Other tenure type 13 0.7
    Tenure Type
Census 2011, ABS
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