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.
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