Property investors who have had real estate in Werribee, 3030 should be relatively unhappy 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 4.02%
Werribee,3030 has offered an average of 4.02% return per annum in house price rises to property investors over the last three years.
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 -4.16% is being offered, which puts this VIC suburb at 1536th most discounted overall in Australia.
On average over the past year, suburb has had 55.75 sales per month, which equates to 669 per year.
Advertised rents are around the $355 mark per week – giving a return of 3.48% based on the median price in Suburb
With a capital gain of 4.35% for the last 12 months, Werribee, 3030 has performed for property investments than its average annual 4.01% property growth over the last 5 years.
A 37.32% growth in median value for property investors in Werribee,3030 puts this suburb at number 149th in terms of best performing suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Werribee is offering property investors an average of -4.37. This rate of discount on properties puts Suburb at number 87th in terms of most discounted suburbs in VIC
Werribee is 96th on a list of best yielding suburbs for rents in VIC with a 4.27% return
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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.