VIC has seen average median house prices change by 8.63% which means that Werribee, 3030 has done well for property investors by showing a capital gain of 9.06% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Werribee comes in at number 333th in VIC.
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 Werribee, 3030. Typically our figures indicate that -5.33% is being offered, which puts this VIC suburb at 2255th most discounted overall in Australia.
Residents and property investors in Werribee have been waiting around 53.01 days to sell a property.
The VIC suburb of Werribee, 3030 is in the Wyndham local government area.
If you compare the increase in value of investment property in Werribee, 3030 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.73%.
The five-year average increase in median property values for Werribee,3030 has given property investors a potential capital gain of 2.78% across each of those five years.
Property investors looking for a bargain in Werribee should be aiming for at least -5.42% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Werribee have been waiting around 80.31 days to sell a property.
Using the current median advertised rental of $280 and the average annual increase in value of a median property of 3.14%, investors should hope to achieve an overall return of 5.25%
Located in Greater Melbourne’s southwest corner, Werribee is home to a mixture of dwelling types, from 100-year-old houses to new estates on the outskirtsFull summary
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Located in Greater Melbourne’s southwest corner, Werribee is home to a mixture of dwelling types, from 100-year-old houses to new estates on the outskirts, which feature house and land packages with entry-level prices of $350,000–$400,000.Close
James Antonio, director of YPA Estate Agents Werribee, says demand is good in the family friendly suburb, with investors “snapping up the bigger blocks for townhouses”.
“We find lots of people are doing long-term rentals,” Antonio says.
“And the vacancy rate is low. To illustrate, we manage over 500 properties, and only two of them are empty.”
Its location at the midway point between Melbourne (32km) and Geelong makes it an ideal spot for commuters, who enjoy the suburb’s quiet lifestyle along Werribee River.
Antonio says there’s huge potential for Werribee’s future.
The new Wyndham Harbour in Werribee South will provide further transport options for residents, and potential overflow from neighbouring suburb Wyndham, which is one of the fastest-growing municipalities in Victoria, according to ABS statistics.
The city has revived plans to develop 775ha in Werribee East – a move that will create 58,000 jobs and add further modern amenities to the Werribee region.