Property investors who have had real estate in Woodend, 3442 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -3.09%
Taking the average capital gain, or increase in median house value, Woodend,3442 has racked up an average of -3.09% over the period. This ranks it number 3405th in the whole country for real estate investors looking at median house price increases.
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 Woodend, 3442. Typically our figures indicate that -5.79% is being offered, which puts this VIC suburb at 1994th most discounted overall in Australia.
Often selling an investment property can take time, and in Woodend the average time real estate has been on the market is 108.08 days.
A $415 per week rent on the median house gives suburb investors a gross yield of circa 4.59%, without taking into account capital value appreciation, which has been averaging out at 5.30%.
Woodend,3442 was ranked 835 in Australia by increase in median property value over the quarter.
Situated 63.64km from the CBD, Woodend is one of Macedon Ranges localities in the postcode 3442.
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
Information supplied by:
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.