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Werribee

VIC/
Werribee

Suburb Profile

Werribee - FREE SUBURB PROFILE REPORT
POSTAL CODE: VIC,3030

house
unit

WERRIBEE, 3030 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling WERRIBEE, 3030 values up and netting property investors a capital gain of 8.7% for the past year.

Investors saw the median home price rise to $500,000.

Profits due to an upward trend in home prices in the suburb averaged 17.95% per annum over a 3-year period.

WERRIBEE now ranks at the 274th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in WERRIBEE are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $360 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In WERRIBEE, homes and units usually stay on listing for an average of 41.4 days.

In 2016, 752 properties were sold in WERRIBEE during the past year, making it the 82nd most active market in VIC based on total real estate transactions.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $500,000 $377,500
GROWTH REPORT
Median Quarterly 0% 2.03%
Median 12 month 8.7% 10.06%
Median 3 years 53.85% 30.17%
Median 5 years 61.29% 52.22%
10 years average annual 7.88% 6.2%
Weekly media advert. rent $360 $310
Time on Market 41.4 days 36.1 days
Gross Rental Yield Percent 3.74% 4.27%
demographics (median values)
Total Population
36636
Weekly Household Income
1003
Household Size
2.70
demographics
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