Suburb Profile Report for Woodend VIC (3442)

Woodend House: Median price $470,000, Annual capital growth 5.30%, Number of sales 80, Weekly median advertised rent $400

Woodend Unit: Median price $430,000, Annual capital growth N/A, Number of sales 16, Weekly median advertised rent $350

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

Source: CoreLogic

  • House Report
  • Expert Report

At number 3198th in the list of Australian suburbs ordered by increase in median house value over the last year, Woodend, 3442 is in the BOTTOM 30% with a property value increase of -2.59% 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

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 -5.65% is being offered, which puts this VIC suburb at 2113th most discounted overall in Australia.

At number 2699 in a list of fastest selling suburbs, Woodend is in the bottom 30% of suburbs in Australia with an average of days on market 102.59 for properties listed there.

Renters in Suburb are facing rents around $4800 per annum or $400 every week.

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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
$470,000 $430,000
-3.84% 1.18%
-2.59% N/A
5.30% N/A
$400 $350
80 16
4.43% 4.23%
102.59 N/A

Source: CoreLogic

DSR Score for property investment : Above average (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
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Recent sales & rentals