Property investors who have had real estate in Werribee, 3030 should be 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 20.94%
Werribee,3030 was ranked 1075 in Australia by increase in median property value over the quarter.
The most recent median price for Werribee is $483750, with sellers offering an average of -5.53% off the asking price.
VIC has seen average median house prices change by 8.36% which means that Werribee, 3030 has done well for property investors by showing a capital gain of 16.67% over the last year
The five-year average increase in median property values for Werribee,3030 has given property investors a potential capital gain of 41.13% across each of those five years.
Our latest figures would indicate that property sellers in Werribee are currently offering property investors an average price cut of -3.82% below the asking price at the moment.
Werribee, 3030’s gross rental yield is 4.61%
Located in Greater Melbourne’s southwest corner, Werribee is home to a mixture of dwelling types, from 100-year-old houses to new estates on the outskirtsFull summary
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Located in Greater Melbourne’s southwest corner, Werribee is home to a mixture of dwelling types, from 100-year-old houses to new estates on the outskirts, which feature house and land packages with entry-level prices of $350,000–$400,000.Close
James Antonio, director of YPA Estate Agents Werribee, says demand is good in the family friendly suburb, with investors “snapping up the bigger blocks for townhouses”.
“We find lots of people are doing long-term rentals,” Antonio says.
“And the vacancy rate is low. To illustrate, we manage over 500 properties, and only two of them are empty.”
Its location at the midway point between Melbourne (32km) and Geelong makes it an ideal spot for commuters, who enjoy the suburb’s quiet lifestyle along Werribee River.
Antonio says there’s huge potential for Werribee’s future.
The new Wyndham Harbour in Werribee South will provide further transport options for residents, and potential overflow from neighbouring suburb Wyndham, which is one of the fastest-growing municipalities in Victoria, according to ABS statistics.
The city has revived plans to develop 775ha in Werribee East – a move that will create 58,000 jobs and add further modern amenities to the Werribee region.