Over the last year, property investments in Woodend, 3442 have given investors a capital gain of 11.53%. This compares averagely with the 11.00% for VIC as a whole.
Woodend,3442 has offered an average of 11.53% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Woodend is giving property investors an average Vendor Discount of around -5.76%. This puts suburb at number 192th in VIC when ranking the most discounted suburbs.
Woodend, 3442’s gross rental yield is 4.15%
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.