Suburb Profile Report for Werribee VIC (3030)

Werribee House: Median price $520,750, Annual capital growth 5.56%, Number of sales 568, Weekly median advertised rent $360

Werribee Unit: Median price $380,000, Annual capital growth 4.13%, Number of sales 100, Weekly median advertised rent $320

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: Monthly data update for Apr 2021 as supplied by CoreLogic. Data is reported to the period ending Jan 2021. Please note that property sales data is routinely updated, so may change retrospectively.

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Giving property investors a an unimpressive capital gain of 3.12% for the last year, Werribee, 3030 is the 2985th highest performer in Australia in this respect.

When looking at the potential capital gains offered to property investors over the last 3 years, Werribee comes in at number 375th in VIC.

LACK OF BUYER INTEREST may well be the reason that Werribee is offering property investors an average of -4.44. This rate of discount on properties puts Suburb at number 184th in terms of most discounted suburbs in VIC

Situated 29.24km from the CBD, Werribee is one of Wyndham (C) localities in the postcode 3030.

With a capital gain of 1.33% for the last 12 months, Werribee, 3030 has performed for property investments than its average annual 4.13% property growth over the last 5 years.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Werribee has increased when compared to the 5 year average annual rate.

Our latest figures would indicate that property sellers in Werribee are currently offering property investors an average price cut of -5.65% below the asking price at the moment.

A $320 per week rent on the median house gives suburb investors a gross yield of circa 4.38%, without taking into account capital value appreciation, which has been averaging out at 4.13%.

Information supplied by:


March 2018

M
O

W
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Commuter suburb sees housing supply fall

Postcode: 3030

Median house price: $457,000

Stock on market: -39.1%

12-month growth: 22.2%

The suburb of Werribee is about halfway between the cities of Melbourne and Geelong, and is regarded as a commuter town. The suburb has been experiencing significant growth since 2016, and shows no sign of dropping off thus far.

In the past 12 months leading up to January 2018, however, housing stock fell considerably from nearly 500 the previous year to just 290, despite Werribee being the most populated suburb in the City of Wyndham. This should serve to spur demand even more in the near future.

Werribee is known as a tourist destination, being the site of Werribee Park and the Werribee Open Range Zoo. The suburb is served by the Werribee Mercy Hospital and the Wyndham Private Medical Centre.

Metrics i HOUSE UNIT
$520,750 $380,000
1.51% 0.00%
3.12% 1.33%
5.56% 4.13%
$360 $320
568 100
3.59% 4.38%
62.6293532338309 88

Source: Monthly data update for Apr 2021 as supplied by CoreLogic. Data is reported to the period ending Jan 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Balanced (U)
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Demographics
Total population 37737
Median household income ($/weekly) 1124
Median age of persons 36
Median housing loan repayment ($/monthly) 1500
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 4874 12.9
    25-34 years 5273 14.0
    35-44 years 5438 14.4
    45-54 years 5484 14.5
    55-64 years 4132 10.9
    Others 12537 33.2
    Age Group
    Census Count Percent(%)
    Registered Married 12789 46.2
    Not Married 12527 45.3
    Defacto Relationship 2346 8.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 25234 71.1
    Indonesia 1106 3.1
    Japan 852 2.4
    United Kingdom 1689 4.8
    Other 2184 6.2
    Others 4405 12.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 624 1.8
    Christianity 24274 70.8
    Hinduism 700 2.0
    Islam 1176 3.4
    No Religion 7014 20.5
    Others 481 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1300 10.8
    $600-$799 1284 10.7
    $800-$999 1218 10.2
    $1,000-$1,249 1292 10.8
    $1,500-$1,999 1650 13.8
    Others 5250 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 10982 38.3
    Not in the labour force 10140 35.4
    Employed, worked part-time 5074 17.7
    Unemployed, looking for work 1347 4.7
    Employed, away from work 1094 3.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 2277 13.3
    Technicians & trades workers 2838 16.5
    Clerical & administrative workers 2961 17.3
    Machinery operators & drivers 1912 11.1
    Labourers 1859 10.8
    Others 5305 30.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 2880 33.0
    Secondary 2650 30.4
    Technical or Further Educational Institution 870 10.0
    University or other Tertiary Institutions 1213 13.9
    Other type of educational institution 582 6.7
    Others 534 6.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 30893 87.8
    Flat, unit or apartment 2127 6.0
    Semi-detached, row or terrace house, townhouse 2121 6.0
    House or flat attached to a shop, office 23 0.1
    Caravan, cabin, houseboat 8 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 5292 40.6
    Fully owned 3882 29.8
    Rented 3757 28.8
    Other tenure type 93 0.7
    Tenure Type
Census 2011, ABS
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