Giving property investors a an unimpressive capital gain of 3.12% for the last year, Werribee, 3030 is the 2985th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Werribee comes in at number 375th in VIC.
LACK OF BUYER INTEREST may well be the reason that Werribee is offering property investors an average of -4.44. This rate of discount on properties puts Suburb at number 184th in terms of most discounted suburbs in VIC
Situated 29.24km from the CBD, Werribee is one of Wyndham (C) localities in the postcode 3030.
With a capital gain of 1.33% for the last 12 months, Werribee, 3030 has performed for property investments than its average annual 4.13% property growth over the last 5 years.
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.
Our latest figures would indicate that property sellers in Werribee are currently offering property investors an average price cut of -5.65% below the asking price at the moment.
A $320 per week rent on the median house gives suburb investors a gross yield of circa 4.38%, without taking into account capital value appreciation, which has been averaging out at 4.13%.
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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.