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 21.62%
Comparing Werribee,3030 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Werribee, 3030 is offering VIC ‘s 5th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.
Often selling an investment property can take time, and in Werribee the average time real estate has been on the market is 25.97 days.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 7.72%, investors should hope to achieve an overall return of 3.81%
Over the last year, property investments in Werribee, 3030 have given investors a capital gain of 12.59%. This compares favourably with the 6.72% for VIC as a whole.
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.
Using the current median advertised rental of $295 and the average annual increase in value of a median property of 4.72%, investors should hope to achieve an overall return of 4.70%
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.