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 decrease in value by -0.65%
A 61.54% growth in median value for property investors in Werribee,3030 puts this suburb at number 318th 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 -6.94. This rate of discount on properties puts Suburb at number 178th in terms of most discounted suburbs in VIC
Residents and property investors in Werribee have been waiting around 65.453 days to sell a property.
Property investors should expect to get $365 weekly from the median priced house in this suburb.
Werribee has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 0.67% to date .
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.
At number 24th of VIC’s most discounted properties, Werribee is in the bottom 10% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Werribee the average time real estate has been on the market is 59.6143 days.
Renters in Suburb are facing rents around $16640 per annum or $320 every week.
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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.