Investment property in Port Fairy has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 26.67%
Comparing Port Fairy,3284 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Port Fairy is offering property investors an average of -5.49. This rate of discount on properties puts Suburb at number 625th in terms of most discounted suburbs in VIC
At number 2333 in a list of fastest selling suburbs, Port Fairy is in the bottom 40% of suburbs in Australia with an average of days on market 82.69 for properties listed there.
A $360 per week rent on the median house gives suburb investors a gross yield of circa 3.03%, without taking into account capital value appreciation, which has been averaging out at 6.86%.
VIC has seen average median house prices change by 5.32% which means that Port Fairy, 3284 has done well for property investors by showing a capital gain of 21.02% over the last year
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 monthsFull summary
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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.Close