With a capital gain of 9.69% for the last 12 months, Whittington, 3219 has performed for property investments than its average annual 6.74% property growth over the last 5 years.
Whittington,3219 has offered an average of 9.69% return per annum in house price rises to property investors over the last three years.
Our latest figures would indicate that property sellers in Whittington are currently offering property investors an average price cut of -6.31% below the asking price at the moment.
Investment property in Whittington 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 23.21%
Whittington,3219 has offered an average of 23.21% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Whittington is offering property investors an average of -6.31. This rate of discount on properties puts Suburb at number 233th in terms of most discounted suburbs in VIC
A $300 per week rent on the median house gives suburb investors a gross yield of circa 4.78%, without taking into account capital value appreciation, which has been averaging out at 7.41%.
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The unit market in Whittington on Geelong’s eastern fringe has not been enjoying a strong run in recent times.
With a median unit price of just $200,000, it may look like a prime place to grab a bargain, but investors shouldn’t be sucked in by that affordability.
Over the past 12 months the median price has fallen by 9%, with a drop of 6% over the past five years.
It doesn’t appear that buyers think Whittington is due for a change in circumstances either, with units spending 102 days on the market, on average. Vendors are also offering average discounts of 6%.
While investors in Whittington’s apartment market will be hoping for no further price falls, they are at least seeing strong rental yields of 6% at the moment.
However, the rental market may be in danger of deteriorating, with figures from Real Estate Investar showing its vacancy rate has grown from 0.56% to 1.06% over the past 12 months.