Werribee has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 22.02% to date .
Comparing Werribee,3030 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -6.46% to buyers in Werribee at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 63.42 sales per month, which equates to 761 per year.
Property investors should expect to get $320 weekly from the median priced house in this suburb.
Werribee is an average performer in VIC when comparing median price capital growth over the last year. Werribee gave property investors a good capital gain figure when compared to the rest of the state, with 8.16%.
If we look at median property appreciation over just the last three months, Werribee has given property investors a paper return of 3.74%. This puts Suburb as 91 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in Werribee should be aiming for at least -4.54% off the asking price, which is the average vendor discount being achieved at the moment.
At number 620 in a list of fastest selling suburbs, Werribee is just in the top half of suburbs in Australia with an average of days on market 69.73 for properties listed there.
Advertised rents are around the $290 mark per week – giving a return of 4.94% based on the median price in 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.