Investment property in Werribee 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 13.64%
Across a shorter period, Werribee, 3030 has seen a median price increase of 3.38% over the last quarter.
Werribee3030 is located in VIC which offers an average discount of -6.03% to property investors. Werribee itself is showing figures that indicate -8.41% is the average achievable by property buyers investing in the suburb.
With the median price for a house in Werribee being $375000 and the advertised rent reaching $310 the gross rental yield for property investors calculates out to be 4.30%
At number 803th in the list of Australian suburbs ordered by increase in median house value over the last year, Werribee, 3030 is in the top half with a property value increase of 3.57% recorded in median house prices.
If we look at median property appreciation over just the last three months, Werribee has given property investors a paper return of 1.75%. This puts Suburb as 117 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in Werribee should be aiming for at least -4.67% off the asking price, which is the average vendor discount being achieved at the moment.
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.