At number 1718th in the list of Australian suburbs ordered by increase in median house value over the last year, Woodend, 3442 is in the top half with a property value increase of 7.14% recorded in median house prices.
Comparing Woodend,3442 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
At number 208th of VIC’s most discounted properties, Woodend is in the bottom 40% of the state/territory when listing in order of most discounted to least.
Using the current median advertised rental of $377.5 and the average annual increase in value of a median property of 5.62%, investors should hope to achieve an overall return of 4.03%
Woodend is 135th on a list of best yielding suburbs for rents in VIC with a 4.59% return
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.