Werribee, 3030 ranked 289th in VIC when comparing growth in median property values or capital gain over the last 12 months. Werribee is one of 2099 in our list for VIC
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.
Sellers are offering property buyers an average discount of -7.72% to buyers in Werribee at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 46.92 sales per month, which equates to 563 per year.
The VIC suburb of Werribee, 3030 is in the Wyndham (C) local government area.
Investment property in Werribee has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.70%
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.
LACK OF BUYER INTEREST may well be the reason that Werribee is offering property investors an average of -6.31. This rate of discount on properties puts Suburb at number 21th in terms of most discounted suburbs in VIC
Werribee is 141th on a list of best yielding suburbs for rents in VIC with a 4.38% return
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Information supplied by:
March 2018
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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.