Over the last year, property investments in Warrnambool, 3280 have given investors a capital gain of 1.25%. This compares very badly with the 11.73% for VIC as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Warrnambool comes in at number 649th in VIC.
At number 30th of VIC’s most discounted properties, Warrnambool is in the bottom 40% of the state/territory when listing in order of most discounted to least.
Warrnambool, 3280’s gross rental yield is 5.28%
Investment property in Warrnambool has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.88%
If we look at median property appreciation over just the last three months, Warrnambool has given property investors a paper return of -0.04%. This puts Suburb as 273 on a list of fastest fasting appreciating suburbs in VIC
Property investors should expect to get $252.5 weekly from the median priced house in this suburb.
Located in the western corner of the Great Ocean Road, Warrnambool is becoming more than just a pretty tourist town, says PRDnationwide analyst Dan O’Halloran. Full summary
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Located in the western corner of the Great Ocean Road, Warrnambool is becoming more than just a pretty tourist town, says PRDnationwide analyst Dan O’Halloran.
“While a strong alliance with the more traditional dairy industry still remains well ingrained within the community, at present there is huge interest being shown to alternative energy projects in the surrounding Warrnambool area, with over $3.5bn worth of privately funded projects either developed or in the pipeline. This level of development is creating expanding employment and investment opportunities in the region and is sure to result in strong property returns in coming years,” he says.
“Warrnambool’s median unit sale price has remained strong, and highlights the growing demand for well positioned, low maintenance style dwellings in the suburb. Warrnambool’s unit market is set to perform well for inventors focused on the medium term.”
According to the city’s growth director Bill Millard, Warrnambool’s rate of annual population increase over the past five years of 1.8% compares well with other Victorian regional centres such as Ballarat (2%) and Bendigo (1.9%), while labour force growth over the past four years has reached an equally strong 3.4% – or 2,500 jobs.
Warrnambool’s unit market is currently dominated by good sized, single storey two-bedroom brick properties – often with a garage. There’s also a good selection of smaller, but more centrally located, two-bedroom apartments on offer. To give an example of the entry price, listings at the time of writing included a $149,000 two-bedroom, one-bathroom unit close to the St John of God Hospital – which offered a 5.7% gross yield.