Woodend is an average performer in VIC when comparing median price capital growth over the last year. Woodend gave property investors a average capital gain figure when compared to the rest of the state, with 12.43%.
Over the longer term, Woodend has seen property prices show investors a 10.05% return over the last 3 years. This is an improvement over the last 12 months
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 -5.80% is being offered, which puts this VIC suburb at 1785th most discounted overall in Australia.
Woodend is 211th on a list of best yielding suburbs for rents in VIC with a 4.15% return
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.