Property value increases in Port Fairy have tracked close to the VIC average of 4.41% over the last 12 months.
A 50.90% growth in median value for property investors in Port Fairy,3284 puts this suburb at number 351th in terms of best performing suburbs in VIC
Property buyers and investors in Port Fairy 3284 should be seeing an average reduction in asking price of around -5.91% . This means that Port Fairy is holding prices well when compared to other suburbs in VIC.
Port Fairy, 3284’s gross rental yield is 3.14%
On average over the past year, suburb has had 0.92 sales per month, which equates to 11 per year.
With the median price for a house in Port Fairy being $470000 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 4.20%
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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.