Suburb Profile Report for Werribee VIC (3030)

Werribee House: Median price $349,000, Annual capital growth 5.18%, Number of sales 676, Weekly median advertised rent $300

Werribee Unit: Median price $277,500, Annual capital growth 3.14%, Number of sales 166, Weekly median advertised rent $280

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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VIC has seen average median house prices change by 8.63% which means that Werribee, 3030 has done well for property investors by showing a capital gain of 9.06% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Werribee comes in at number 333th in VIC.

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 -5.33% is being offered, which puts this VIC suburb at 2255th most discounted overall in Australia.

Residents and property investors in Werribee have been waiting around 53.01 days to sell a property.

The VIC suburb of Werribee, 3030 is in the Wyndham local government area.

If you compare the increase in value of investment property in Werribee, 3030 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.73%.

The five-year average increase in median property values for Werribee,3030 has given property investors a potential capital gain of 2.78% across each of those five years.

Property investors looking for a bargain in Werribee should be aiming for at least -5.42% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Werribee have been waiting around 80.31 days to sell a property.

Using the current median advertised rental of $280 and the average annual increase in value of a median property of 3.14%, investors should hope to achieve an overall return of 5.25%

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
$349,000 $277,500
2.65% 1.37%
9.06% 6.73%
5.18% 3.14%
$300 $280
676 166
4.47% 5.25%
53.01 80.31

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 (U), Good (H)
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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