Suburb Profile Report for Werribee VIC (3030)

Werribee House: Median price $345,000, Annual capital growth 5.16%, Number of sales 697, Weekly median advertised rent $300

Werribee Unit: Median price $275,000, Annual capital growth 3.31%, Number of sales 170, Weekly median advertised rent $275

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Werribee is an average performer in VIC when comparing median price capital growth over the last year. Werribee gave property investors a average capital gain figure when compared to the rest of the state, with 8.83%.

A 9.52% growth in median value for property investors in Werribee,3030 puts this suburb at number 173th in terms of best performing suburbs in VIC

Vendor discounting in Werribee is giving property investors an average Vendor Discount of around -5.06%. This puts suburb at number 360th in VIC when ranking the most discounted suburbs.

Using the current median advertised rental of $300 and the average annual increase in value of a median property of 5.16%, investors should hope to achieve an overall return of 4.52%

Werribee is in the bottom 40% in VIC when comparing median price capital growth over the last year. Werribee gave property investors a disappointing capital gain figure when compared to the rest of the state, with 1.85%.

While Werribee,3030 ranked number 114th in VIC for increase in median house value (annualised) increase, it is ranked 241th over the last 5 years.

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 -5.56% is being offered, which puts this VIC suburb at 563th most discounted overall in Australia.

Werribee is 62th on a list of best yielding suburbs for rents in VIC with a 5.20% return

YIP MAG Information supplied by:

YIP MAG
June 2016

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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 outskirtsFull summary

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.

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.

Close
HOUSE UNIT
$345,000 $275,000
2.99% 1.76%
8.83% 1.85%
5.16% 3.31%
$300 $275
697 170
4.52% 5.20%
57.03 73.85

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 : Above average (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