If you compare the increase in value of investment property in Werribee, 3030 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 11.78%.
While Werribee,3030 ranked number 317th in VIC for increase in median house value (annualised) increase, it is ranked 107th over the last 5 years.
Sellers are offering property buyers an average discount of -7.99% 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 69.25 sales per month, which equates to 831 per year.
Situated 28.93km from the CBD, Werribee is one of Wyndham (C) localities in the postcode 3030.
VIC has seen average median house prices change by 4.59% which means that Werribee, 3030 has done well for property investors by showing a capital gain of 10.87% over the last year
Taking the average capital gain, or increase in median house value, Werribee,3030 has racked up an average of 10.87% over the period. This ranks it number 329th in the whole country for real estate investors looking at median house price increases.
At number 285th of VIC’s most discounted properties, Werribee is in the TOP 20% of the state/territory when listing in order of most discounted to least.
Using the current median advertised rental of $310 and the average annual increase in value of a median property of 5.95%, investors should hope to achieve an overall return of 4.42%
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 farFull summary
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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.Close