Whittington has emerged as one of Australia’s top 100 suburbs in a national list by an investment magazine.
Your Property Investment named the suburb alongside Belmont, Geelong West, Grovedale, Herne Hill and Highton in its 100 Top Places to Invest in 2019.
Whittington has a median house price of $346,750, with buyers snapping up properties after an average of 23 days on the market.
“With 41.3 per cent of residents renting their homes, landlords can rest assured that their properties are unlikely to be empty for long,” the magazine’s Jeremy Sheppard said.
“Indeed, the vacancy rate is just 0.3 per cent.”
But buyers had to be quick to invest in the suburb, Mr Sheppard said.
“Combine quick selling times with an average discount of only 1.35 per cent and it’s clear that buyers can’t be fussy in this market.
“Sellers will turn their noses up at anything except a very strong offer.”
Whittington experienced 20 per cent capital growth over the past 12 months.
Geelong was one of the strongest markets in Australia at the moment, according the magazine’s Nerida Conisbee.
“That’s going to continue for the foreseeable future given what we’re seeing with regard to both buyer and rental demand,” she said.
“There’s been a lot of investment in Geelong into improving the road infrastructure to Melbourne, making it a high-demand area.”
Geelong West was leading the charge locally, Ms Conisbee said.
“More affordable than Melbourne, with median values of $698,000 for houses and $380,000 for units, Geelong West is one of the strongest suburbs in Victoria to invest in in 2019.”
Your Property Investment rated Australia’s suburbs based on their affordability, demand, demographics, economy, growth prospects and improvements.
