At number 1783th in the list of Australian suburbs ordered by increase in median house value over the last year, Whittington, 3219 is in the top half with a property value increase of 9.19% recorded in median house prices.
Over the longer term, Whittington has seen property prices show investors a 18.81% return over the last 3 years. This is worse than over the last 12 months
Whittington, 3219 ranked 86th in VIC when comparing growth in median property values or capital gain over the last 12 months. Whittington is one of 2098 in our list for VIC
Whittington, 3219’s gross rental yield is 6.29%
The Greater Geelong suburb of Whittington scores highly for growth potential, according to Redwerks research director Jeremy Sheppard.Full summary
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The unit market in Whittington on Geelong’s eastern fringe has not been enjoying a strong run in recent times.Close
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.