Property value increases in Woodend have tracked lower than the VIC average of 8.27% over the last 12 months.
Woodend,3442 was ranked 3202 in Australia by increase in median property value over the quarter.
Woodend3442 is located in VIC which offers an average discount of -5.91% to property investors. Woodend itself is showing figures that indicate -6.44% is the average achievable by property buyers investing in the suburb.
Woodend, 3442’s gross rental yield is 4.53%
Woodend has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 3.57% to date .
If we look at median property appreciation over just the last three months, Woodend has given property investors a paper return of 1.75%. This puts Suburb as 111 on a list of fastest fasting appreciating suburbs in VIC
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.