Suburb Profile Report for Werribee VIC (3030)

Werribee House: Median price $505,000, Annual capital growth 8.45%, Number of sales 803, Weekly median advertised rent $350

Werribee Unit: Median price $361,500, Annual capital growth 5.80%, Number of sales 142, Weekly median advertised rent $310

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Over the last year, property investments in Werribee, 3030 have given investors a capital gain of 14.38%. This compares favourably with the 7.88% for VIC as a whole.

While Werribee,3030 ranked number 282th in VIC for increase in median house value (annualised) increase, it is ranked 170th over the last 5 years.

At number 286th of VIC’s most discounted properties, Werribee is in the middle of the state/territory when listing in order of most discounted to least.

With the median price for a house in Werribee being $505000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 3.60%

Werribee, 3030 ranked 87th in VIC when comparing growth in median property values or capital gain over the last 12 months. Werribee is one of 2098 in our list for VIC

Over the longer term, Werribee has seen property prices show investors a 31.22% return over the last 3 years. This is worse than 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 Werribee, 3030. Typically our figures indicate that -5.42% is being offered, which puts this VIC suburb at 696th most discounted overall in Australia.

A $310 per week rent on the median house gives suburb investors a gross yield of circa 4.46%, without taking into account capital value appreciation, which has been averaging out at 5.80%.

Information supplied by:


March 2018

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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

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.

Close
Metrics i HOUSE UNIT
$505,000 $361,500
1.35% 0.00%
14.38% 14.04%
8.45% 5.80%
$350 $310
803 142
3.60% 4.46%
43.87 57.22

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (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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