Port Fairy has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 1.23% to date .
Port Fairy,3284 has offered an average of 1.23% return per annum in house price rises to property investors over the last three years.
The most recent median price for Port Fairy is $617500, with sellers offering an average of -4.84% off the asking price.
In the last year 74 properties changed hands in Port Fairy, which puts it as the 311th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Port Fairy being $617500 and the advertised rent reaching $375 the gross rental yield for property investors calculates out to be 3.16%
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Vacancies plummet in coastal suburb
Median unit price: $440,000
Vacancy rate: 0.5%
Three-year growth: 17.3%
Located along the Great Ocean Road, Port Fairy is one of Victoria’s top destinations. Homebuyers are showing much interest in this area, as its average vacancy rate plunged from 2.9% in January 2017 to a very tight 0.5% after 12 months.
Apartments are affordable despite nearly 20% growth in the three months to January 2018, which could contribute to its appeal. Prices have been increasing steadily since 2015, which spells good news for its long-term appeal.
Port Fairy is the last stop on Shipwreck Coast, and it teems with history. The suburb is home to old church and 19th-century cottages. It has a lively arts scene, an excellent water activity scene given its proximity to the coast and excellent food.