At number 3342th in the list of Australian suburbs ordered by increase in median house value over the last year, Werribee, 3030 is in the BOTTOM 30% with a property value increase of 6.27% recorded in median house prices.
If we look at median property appreciation over just the last three months, Werribee has given property investors a paper return of 2.26%. This puts Suburb as 558 on a list of fastest fasting appreciating suburbs in VIC
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.08% offered to property buyers. Sellers in Werribee itself are offering an average vendor discount of -3.82% to real estate investors.
Often selling an investment property can take time, and in Werribee the average time real estate has been on the market is 57.1278 days.
Property investors who have had real estate in Werribee, 3030 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 6.38%
If we look at median property appreciation over just the last three months, Werribee has given property investors a paper return of 2.83%. This puts Suburb as 162 on a list of fastest fasting appreciating suburbs in VIC
Werribee, 3030 is offering VIC ‘s 95th 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.
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Commuter suburb sees housing supply fall
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.