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 2.62%
Werribee,3030 was ranked 1521 in Australia by increase in median property value over the quarter.
Werribee3030 is located in VIC which offers an average discount of -6.34% to property investors. Werribee itself is showing figures that indicate -7.29% is the average achievable by property buyers investing in the suburb.
Werribee is 237th on a list of best yielding suburbs for rents in VIC with a 3.72% return
Investment property in Werribee has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.32%
When looking at the potential capital gains offered to property investors over the last 3 years, Werribee comes in at number 114th in VIC.
The most recent median price for Werribee is $375000, with sellers offering an average of -9.65% off the asking price.
Property investors should expect to get $320 weekly from the median priced house in this suburb.
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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.