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