At number 1050th in the list of Australian suburbs ordered by increase in median house value over the last year, Woodend, 3442 is in the top 30% with a property value increase of 11.59% recorded in median house prices.
If we look at median property appreciation over just the last three months, Woodend has given property investors a paper return of 10.99%. This puts Suburb as 19 on a list of fastest fasting appreciating suburbs in VIC
Woodend, 3442 is offering VIC ‘s 228th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
Woodend, 3442 ranked 77th in VIC when comparing growth in median property values or capital gain over the last 12 months. Woodend is one of 2098 in our list for VIC
A $345 per week rent on the median house gives suburb investors a gross yield of circa 3.84%, without taking into account capital value appreciation, which has been averaging out at 29.93%.
This popular suburb is just over 70 km north of Melbourne’s CBD, which makes it a decent commute to the city, but that isn’t stopping keen buyers from snapping up houses in the area.Full summary
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This popular suburb is just over 70 km north of Melbourne’s CBD, which makes it a decent commute to the city, but that isn’t stopping keen buyers from snapping up houses in the area.
Driving, however, isn’t the only means of getting to the city. Woodend’s train station sees Melbourne bound trains pass through regularly, reaching the city’s Southern Cross station in just over an hour.
Randolph Clements, Director of Raine & Horne Victoria, believes that the pairing of expensive inner city properties and family connections back home may explain why Woodend is proving to be a popular choice among home buyers.
“Areas like Woodend are very family connected,” he says. “The kids might have moved out, but can’t buy something too expensive in Melbourne, so they come back again.”
“In Essendon for instance a block of land costs one to 1.2 million. So the best thing is to go a bit further out and get on to the ring road where you’re not that far away,” explains Clements.