With a capital gain of 9.38% for the last 12 months, Werribee, 3030 has performed for property investments than its average annual 5.16% property growth over the last 5 years.
A 9.38% growth in median value for property investors in Werribee,3030 puts this suburb at number 205th in terms of best performing suburbs in VIC
Sellers are offering property buyers an average discount of -5.75% to buyers in Werribee at the moment, which is less than average for the rest of VIC.
With the median price for a house in Werribee being $350000 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 4.46%
Werribee has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 6.29% to date .
The five-year average increase in median property values for Werribee,3030 has given property investors a potential capital gain of 3.24% across each of those five years.
Property investors looking for a bargain in Werribee should be aiming for at least -5.22% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Werribee the average time real estate has been on the market is 76.51 days.
Property investors should expect to get $280 weekly from the median priced house in this suburb.
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.