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 22.16%
Comparing Woodend,3442 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.00% offered to property buyers. Sellers in Woodend itself are offering an average vendor discount of -3.58% to real estate investors.
Advertised rents are around the $385 mark per week – giving a return of 3.54% based on the median price in Suburb
At number 528th in the list of Australian suburbs ordered by increase in median house value over the last year, Woodend, 3442 is in the top 30% with a property value increase of 9.60% recorded in median house prices.
Woodend, 3442’s gross rental yield is 4.19%
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.