Suburb Profile Report for Wonthaggi VIC (3995)

Wonthaggi House: Median price $328,250, Annual capital growth 3.79%, Number of sales 140, Weekly median advertised rent $280

Wonthaggi Unit: Median price $297,500, Annual capital growth 3.08%, Number of sales 38, Weekly median advertised rent $270

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
  • House Report
  • Unit Report
  • Expert Report

Investment property in Wonthaggi 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 17.23%

Comparing Wonthaggi,3995 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property investors looking for a bargain in Wonthaggi should be aiming for at least -3.12% off the asking price, which is the average vendor discount being achieved at the moment.

With the median price for a house in Wonthaggi being $328250 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 4.44%

Wonthaggi, 3995 ranked 41th in VIC when comparing growth in median property values or capital gain over the last 12 months. Wonthaggi is one of 2098 in our list for VIC

The five-year average increase in median property values for Wonthaggi,3995 has given property investors a potential capital gain of 18.76% across each of those five years.

Sellers are offering property buyers an average discount of -3.48% to buyers in Wonthaggi at the moment, which is less than average for the rest of VIC.

Renters in Suburb are facing rents around $14040 per annum or $270 every week.

Information supplied by:


July 2018

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Part of the biggest town in the South Gippsland region, the suburb of Wonthaggi is enjoying a great deal of attention from tenantsFull summary

A tight fit for renters

Postcode: 3995

Median unit price: $265,000

Vacancy rate: 0.5% (from 1.5%)

Three-year growth: 16.2%

Part of the biggest town in the South Gippsland region, the suburb of Wonthaggi is enjoying a great deal of attention from tenants.

The current vacancy rate is extremely tight, dropping from 1.5% in April 2017 to just 0.5% 12 months later. A vacancy rate between 2-3% indicates a balanced tenancy market, so Wonthaggi is experiencing a strong shortage of rental properties. This could spur competition among tenants, especially with the average rent for apartments being less than $300 a week. Returns remain quite high for landlords, at 5.3%.

A seaside town located roughly 130km south east of Melbourne, Wonthaggi’s commercial area thrives thanks to its tourist industry. The suburb is home to many parks, reserves and gardens, such as the Wonthaggi Wetlands Conservation Park. There are also restaurants, cafes and bars. The proximity of beaches is also a drawing card.

Close
Metrics i HOUSE UNIT
$328,250 $297,500
6.06% 5.31%
17.23% 18.53%
3.79% 3.08%
$280 $270
140 38
4.44% 4.72%
71.1 89.87

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
Find a mortgage broker in Wonthaggi VIC
Demographics
Total population 4354
Median household income ($/weekly) 675
Median age of persons 48
Median housing loan repayment ($/monthly) 1192
Average household size 2.1
  • Census Count Percent(%)
    35-44 years 451 10.4
    45-54 years 545 12.5
    55-64 years 573 13.2
    65-74 years 559 12.8
    75-84 years 480 11.0
    Others 1746 40.1
    Age Group
    Census Count Percent(%)
    Not Married 1602 49.8
    Registered Married 1357 42.1
    Defacto Relationship 261 8.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 3467 84.9
    Japan 80 2.0
    Papua New Guinea 51 1.2
    United Kingdom 268 6.6
    Other 78 1.9
    Others 140 3.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 39 1.0
    Christianity 2679 68.4
    Islam 9 0.2
    Other Religious Groups 14 0.4
    No Religion 1162 29.7
    Others 12 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 280 16.6
    $400-$599 322 19.1
    $600-$799 217 12.8
    $800-$999 149 8.8
    $1,500-$1,999 134 7.9
    Others 587 34.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1695 49.9
    Employed, worked full-time 863 25.4
    Employed, worked part-time 619 18.2
    Employed, away from work 121 3.6
    Unemployed, looking for work 101 3.0
    Person Characteristics
  • Census Count Percent(%)
    Professionals 184 11.5
    Technicians & trades workers 261 16.3
    Community & personal service workers 192 12.0
    Sales 200 12.5
    Labourers 319 19.9
    Others 444 27.8
    Occupation
    Census Count Percent(%)
    Pre-school 53 7.1
    Infants/Primary 265 35.6
    Secondary 271 36.4
    Technical or Further Educational Institution 77 10.3
    University or other Tertiary Institutions 44 5.9
    Others 35 4.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3315 84.0
    Semi-detached, row or terrace house, townhouse 322 8.2
    Flat, unit or apartment 283 7.2
    Caravan, cabin, houseboat 24 0.6
    House or flat attached to a shop, office 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 802 44.4
    Rented 597 33.0
    Being purchased 395 21.9
    Other tenure type 13 0.7
    Tenure Type
Census 2011, ABS
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