Suburb Profile Report for Woodend VIC (3442)

Woodend House: Median price $490,000, Annual capital growth 5.85%, Number of sales 79, Weekly median advertised rent $378

Woodend Unit: Median price $425,000, Annual capital growth N/A, Number of sales 15, Weekly median advertised rent $305

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Woodend has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 5.38% to date .

Woodend,3442 was ranked 608 in Australia by increase in median property value over the quarter.

Property investors looking for a bargain in Woodend should be aiming for at least -6.21% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 15 properties changed hands in Woodend, which puts it as the 331th most active market in VIC when comparing the number of sales per suburb.

Advertised rents are around the $305 mark per week – giving a return of 3.73% based on the median price in Suburb

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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.Full summary

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.

Close
HOUSE UNIT
$490,000 $425,000
4.26% N/A
5.38% N/A
5.85% N/A
$378 $305
79 15
4.01% 3.73%
100.27 N/A

Source: CoreLogic

DSR Score for property investment : Very good (U), Good (H)
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Demographics
Total population 5414
Median household income ($/weekly) 1445
Median age of persons 41
Median housing loan repayment ($/monthly) 1647
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 826 15.3
    35-44 years 897 16.6
    45-54 years 883 16.3
    55-64 years 751 13.9
    65-74 years 426 7.9
    Others 1630 30.1
    Age Group
    Census Count Percent(%)
    Registered Married 2047 54.1
    Not Married 1353 35.7
    Defacto Relationship 387 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 4349 84.7
    Greece 49 1.0
    Papua New Guinea 60 1.2
    United Kingdom 384 7.5
    Other 75 1.5
    Others 217 4.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 46 0.9
    Christianity 2981 61.4
    Judaism 10 0.2
    Other Religious Groups 27 0.6
    No Religion 1789 36.8
    Others 4 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 152 8.9
    $600-$799 152 8.9
    $1,500-$1,999 245 14.4
    $2,000-$2,499 161 9.5
    $2,500-$2,999 203 11.9
    Others 789 46.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1410 35.0
    Not in the labour force 1339 33.2
    Employed, worked part-time 983 24.4
    Employed, away from work 198 4.9
    Unemployed, looking for work 99 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 347 13.4
    Professionals 677 26.1
    Technicians & trades workers 375 14.5
    Community & personal service workers 288 11.1
    Clerical & administrative workers 337 13.0
    Others 567 21.9
    Occupation
    Census Count Percent(%)
    Pre-school 109 7.7
    Infants/Primary 558 39.7
    Secondary 419 29.8
    Technical or Further Educational Institution 108 7.7
    University or other Tertiary Institutions 175 12.4
    Others 38 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4928 98.7
    Flat, unit or apartment 54 1.1
    Caravan, cabin, houseboat 5 0.1
    Improvised home, tent, sleepers out 4 0.1
    Semi-detached, row or terrace house, townhouse 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 883 47.4
    Fully owned 658 35.3
    Rented 314 16.8
    Other tenure type 9 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals