Woodend has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 11.05% to date .
Across a shorter period, Woodend, 3442 has seen a median price increase of 6.74% over the last quarter.
Woodend, 3442 is offering VIC ‘s 206th 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’s gross rental yield is 4.24%
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.