If you compare the increase in value of investment property in Wonthaggi, 3995 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 7.39%.
Wonthaggi,3995 was ranked 1181 in Australia by increase in median property value over the quarter.
Wonthaggi, 3995 is offering VIC ‘s 579th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this VIC.
On average over the past year, suburb has had 12.08 sales per month, which equates to 145 per year.
Situated 103.83km from the CBD, Wonthaggi is one of Bass Coast localities in the postcode 3995.
Giving property investors a a solid capital gain of 19.75% for the last year, Wonthaggi, 3995 is the 147th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Wonthaggi,3995 has racked up an average of 19.75% over the period. This ranks it number 354th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Wonthaggi are currently offering property investors an average price cut of -3.31% below the asking price at the moment.
Situated 104.03km from the CBD, Wonthaggi is one of Bass Coast localities in the postcode 3995.
Part of the biggest town in the South Gippsland region, the suburb of Wonthaggi is enjoying a great deal of attention from tenantsFull summary
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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.Close