Property value increases in Werribee have tracked close to the VIC average of 8.23% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Werribee has increased when compared to the 5 year average annual rate.
Property buyers and investors in Werribee 3030 should be seeing an average reduction in asking price of around -6.28% . This means that Werribee is holding prices well when compared to other suburbs in VIC.
Over the last year, property investments in Werribee, 3030 have given investors a capital gain of 5.30%. This compares averagely with the 4.09% for VIC as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Werribee comes in at number 194th in VIC.
Vendor discounting in Werribee is giving property investors an average Vendor Discount of around -5.18%. This puts suburb at number 153th in VIC when ranking the most discounted suburbs.
At number 830 in a list of fastest selling suburbs, Werribee is just in the bottom half of suburbs in Australia with an average of days on market 78.2 for properties listed there.
Renters in Suburb are facing rents around $3360 per annum or $280 every week.
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.