Suburb Profile Report for Werribee VIC (3030)

Werribee House: Median price $340,000, Annual capital growth 4.99%, Number of sales 717, Weekly median advertised rent $300

Werribee Unit: Median price $273,750, Annual capital growth 3.18%, Number of sales 182, Weekly median advertised rent $275

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Werribee has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 7.59% to date .

Werribee,3030 was ranked 1617 in Australia by increase in median property value over the quarter.

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 -5.02% is being offered, which puts this VIC suburb at 2425th most discounted overall in Australia.

A $300 per week rent on the median house gives suburb investors a gross yield of circa 4.59%, without taking into account capital value appreciation, which has been averaging out at 4.99%.

Investment property in Werribee has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.30%

If we look at median property appreciation over just the last three months, Werribee has given property investors a paper return of 1.39%. This puts Suburb as 147 on a list of fastest fasting appreciating suburbs in VIC

Werribee, 3030 is offering VIC ‘s 124th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.

On average over the past year, suburb has had 15.17 sales per month, which equates to 182 per year.

Advertised rents are around the $275 mark per week – giving a return of 5.22% based on the median price in Suburb

Greg O’Meara Information supplied by:

Greg O’Meara
PRD Nationwide

M 0419 580 535
O (03)97427557

W www.prdwerribee.com.au
E grego@prdwerribee.com.au
Population is on the move upwards in Werribee, as outer Melbourne suburbs begin to experience growth thanks to improved infrastructure and lifestyle-based location choices.
Located approximately 30km to Melbourne's south-west, Werribee offers affordable property, in close proximity to good amenities, such as quality schools, shopping facilities and public transport. The CBD has never been as accessible as it is now, while a number of small and large businesses also play a role in driving the local economy.
Houses can be picked up for as little as $200,000 in the suburb, representing a great opportunity to get into a market that's primed for growth.Full summary

Selling points: Werribee has one of the fastest growing populations in Victoria. It is approximately 20-30 minutes to the Melbourne CBD and has an abundance of good schools, public transport and shopping centres. Values range in the area from $200,000 to $1.3 million

Most sought after properties: Most homes are in demand if they are in the right location; being close to schools, shops and public transport

Most common properties: The majority of homes are older, allowing the opportunity to pick up a large parcel of land. The newer sub divisions are all on smaller blocks of land

Top amenities: Great schools, shopping facilities, public transport and affordability

Local industry and business: Werribee has a number of small and large businesses; however a lot of the community will travel to the Melbourne CBD to work.

Recent changes: The area has changed considerably, with the population growth and infrastructure required to meet everyone’s needs. The Werribee Plaza is a huge shopping centre that caters for all needs and wants, and has expanded greatly over the past decade, with plans in the process for larger expansion again

Best streets: The best areas to buy are the streets close to the main street of Werribee, the train station, schools, shops and freeway access

Public transport: Buses run at regular times to all of the major shopping centres, train stations and past most of the schools.

Main arteries: The freeways from Werribee are fantastic. If you head in an easterly direction you will be in Melbourne’s CBD in 20-30 mins. If you head in a westerly direction you will be in Geelong in about 30 mins, or you can keep heading west to the beaches, taking about another 20-30 mins.

Close
HOUSE UNIT
$340,000 $273,750
1.49% 1.39%
7.59% 3.30%
4.99% 3.18%
$300 $275
717 182
4.59% 5.22%
59.23 72.5

Source: Property Value by CoreLogic. Click here to get a list of the top suburbs for capital growth potential. Enter code YIP10 at checkout for 10% off premium subscription.

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 37737
Median household income ($/weekly) 1124
Median age of persons 36
Median housing loan repayment ($/monthly) 1500
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 4874 12.9
    25-34 years 5273 14.0
    35-44 years 5438 14.4
    45-54 years 5484 14.5
    55-64 years 4132 10.9
    Others 12537 33.2
    Age Group
    Census Count Percent(%)
    Registered Married 12789 46.2
    Not Married 12527 45.3
    Defacto Relationship 2346 8.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 25234 71.1
    Indonesia 1106 3.1
    Japan 852 2.4
    United Kingdom 1689 4.8
    Other 2184 6.2
    Others 4405 12.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 624 1.8
    Christianity 24274 70.8
    Hinduism 700 2.0
    Islam 1176 3.4
    No Religion 7014 20.5
    Others 481 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1300 10.8
    $600-$799 1284 10.7
    $800-$999 1218 10.2
    $1,000-$1,249 1292 10.8
    $1,500-$1,999 1650 13.8
    Others 5250 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 10982 38.3
    Not in the labour force 10140 35.4
    Employed, worked part-time 5074 17.7
    Unemployed, looking for work 1347 4.7
    Employed, away from work 1094 3.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 2277 13.3
    Technicians & trades workers 2838 16.5
    Clerical & administrative workers 2961 17.3
    Machinery operators & drivers 1912 11.1
    Labourers 1859 10.8
    Others 5305 30.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 2880 33.0
    Secondary 2650 30.4
    Technical or Further Educational Institution 870 10.0
    University or other Tertiary Institutions 1213 13.9
    Other type of educational institution 582 6.7
    Others 534 6.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 30893 87.8
    Flat, unit or apartment 2127 6.0
    Semi-detached, row or terrace house, townhouse 2121 6.0
    House or flat attached to a shop, office 23 0.1
    Caravan, cabin, houseboat 8 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 5292 40.6
    Fully owned 3882 29.8
    Rented 3757 28.8
    Other tenure type 93 0.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals