With a capital gain of 9.08% for the last 12 months, Wonthaggi, 3995 has performed for property investments than its average annual 4.10% property growth over the last 5 years.
While Wonthaggi,3995 ranked number 399th in VIC for increase in median house value (annualised) increase, it is ranked 97th over the last 5 years.
Property investors looking for a bargain in Wonthaggi should be aiming for at least -4.74% off the asking price, which is the average vendor discount being achieved at the moment.
The VIC suburb of Wonthaggi, 3995 is in the Bass Coast (S) local government area.
Wonthaggi is an average performer in VIC when comparing median price capital growth over the last year. Wonthaggi gave property investors a average capital gain figure when compared to the rest of the state, with 2.17%.
Comparing Wonthaggi,3995 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Wonthaggi, 3995. Typically our figures indicate that -6.68% is being offered, which puts this VIC suburb at 463th most discounted overall in Australia.
In the last year 19 properties changed hands in Wonthaggi, which puts it as the 287th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Wonthaggi being $306500 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 4.92%
Information supplied by:
A tight fit for renters
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.