At number 1276th in the list of Australian suburbs ordered by increase in median house value over the last year, Werribee, 3030 is in the top 30% with a property value increase of 5.12% recorded in median house prices.
Werribee,3030 was ranked 2100 in Australia by increase in median property value over the quarter.
Vendor discounting in Werribee is giving property investors an average Vendor Discount of around -6.11%. This puts suburb at number 285th in VIC when ranking the most discounted suburbs.
Situated 28.92km from the CBD, Werribee is one of Wyndham (C) localities in the postcode 3030.
Property investors who have had real estate in Werribee, 3030 should be relatively pleased 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 5.57%
A 54.16% growth in median value for property investors in Werribee,3030 puts this suburb at number 124th in terms of best performing suburbs in VIC
Property buyers and investors in Werribee 3030 should be seeing an average reduction in asking price of around -6.56% . This means that Werribee is holding prices well when compared to other suburbs in VIC.
In the last year 96 properties changed hands in Werribee, which puts it as the 52th most active market in VIC when comparing the number of sales per suburb.
A $315 per week rent on the median house gives suburb investors a gross yield of circa 4.31%, without taking into account capital value appreciation, which has been averaging out at 6.60%.
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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.