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.
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.