Over the last year, property investments in Werribee, 3030 have given investors a capital gain of 13.64%. This compares favourably with the 7.68% for VIC as a whole.
The five-year average increase in median property values for Werribee,3030 has given property investors a potential capital gain of 19.05% across each of those five years.
Property buyers and investors in Werribee 3030 should be seeing an average reduction in asking price of around -7.40% . This means that Werribee is holding prices well when compared to other suburbs in VIC.
Residents and property investors in Werribee have been waiting around 51.46 days to sell a property.
Werribee, 3030’s gross rental yield is 4.30%
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 4.32%
Taking the average capital gain, or increase in median house value, Werribee,3030 has racked up an average of 4.32% over the period. This ranks it number 775th in the whole country for real estate investors looking at median house price increases.
Werribee, 3030 is offering VIC ‘s 163th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
Advertised rents are around the $280 mark per week – giving a return of 5.02% 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.