Investment property in Wonthaggi has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.50%
Comparing Wonthaggi,3995 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Wonthaggi should be aiming for at least -3.24% off the asking price, which is the average vendor discount being achieved at the moment.
A $280 per week rent on the median house gives suburb investors a gross yield of circa 4.62%, without taking into account capital value appreciation, which has been averaging out at 3.51%.
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 14.92%
Wonthaggi,3995 has offered an average of 14.92% return per annum in house price rises to property investors over the last three years.
Wonthaggi, 3995 is offering VIC ‘s 240th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.
With the median price for a house in Wonthaggi being $285000 and the advertised rent reaching $270 the gross rental yield for property investors calculates out to be 4.93%
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