With a capital gain of -1.28% for the last 12 months, Whittington, 3219 has performed for property investments than its average annual 6.58% property growth over the last 5 years.
While Whittington,3219 ranked number 221th in VIC for increase in median house value (annualised) increase, it is ranked 191th over the last 5 years.
Sellers are offering property buyers an average discount of -5.46% to buyers in Whittington at the moment, which is less than average for the rest of VIC.
Whittington, 3219 ranked 212th in VIC when comparing growth in median property values or capital gain over the last 12 months. Whittington is one of 2099 in our list for VIC
If we look at median property appreciation over just the last three months, Whittington has given property investors a paper return of 8.94%. This puts Suburb as 20 on a list of fastest fasting appreciating suburbs in VIC
Vendor discounting in Whittington is giving property investors an average Vendor Discount of around -3.94%. This puts suburb at number 227th in VIC when ranking the most discounted suburbs.
Renters in Suburb are facing rents around $15340 per annum or $295 every week.
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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.