Property investors who have had real estate in Woodend, 3442 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 18.58%
Woodend,3442 has offered an average of 18.58% return per annum in house price rises to property investors over the last three years.
Woodend3442 is located in VIC which offers an average discount of -5.20% to property investors. Woodend itself is showing figures that indicate -3.55% is the average achievable by property buyers investing in the suburb.
Property investors should expect to get $410 weekly from the median priced house in this suburb.
If you compare the increase in value of investment property in Woodend, 3442 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 5.91%.
Woodend, 3442’s gross rental yield is 4.35%
This popular suburb is just over 70 km north of Melbourne’s CBD, which makes it a decent commute to the city, but that isn’t stopping keen buyers from snapping up houses in the area.Full summary
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This popular suburb is just over 70 km north of Melbourne’s CBD, which makes it a decent commute to the city, but that isn’t stopping keen buyers from snapping up houses in the area.
Driving, however, isn’t the only means of getting to the city. Woodend’s train station sees Melbourne bound trains pass through regularly, reaching the city’s Southern Cross station in just over an hour.
Randolph Clements, Director of Raine & Horne Victoria, believes that the pairing of expensive inner city properties and family connections back home may explain why Woodend is proving to be a popular choice among home buyers.
“Areas like Woodend are very family connected,” he says. “The kids might have moved out, but can’t buy something too expensive in Melbourne, so they come back again.”
“In Essendon for instance a block of land costs one to 1.2 million. So the best thing is to go a bit further out and get on to the ring road where you’re not that far away,” explains Clements.