Investment property in Woodend has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.56%
If we look at median property appreciation over just the last three months, Woodend has given property investors a paper return of 0.00%. This puts Suburb as 497 on a list of fastest fasting appreciating suburbs in VIC
Woodend, 3442 is offering VIC ‘s 269th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
Woodend is 221th on a list of best yielding suburbs for rents in VIC with a 4.27% return
Woodend, 3442’s gross rental yield is 4.26%
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.