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Werribee

POSTAL CODE: VIC, 3030
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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 6.21% for the past year.

Investors saw the median home price rise to $650,000.

Profits due to an upward trend in home prices in the suburb averaged 2.48% per annum over a 3-year period.

WERRIBEE now ranks at the 157th 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 $465 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 51.8 days.

In 2016, 1135 properties were sold in WERRIBEE during the past year, making it the 393rd most active market in VIC based on total real estate transactions.

Surburb overview

Werribee, located approximately 32 kilometres southwest of Melbourne's Central Business District, is a suburb within the City of Wyndham local government area. According to the 2021 Census, it has a population of 50,027 residents. 

The suburb's demographic profile is diverse. While 58.8% of residents were born in Australia, significant communities originate from India (5.9%), New Zealand (2.7%), the Philippines (2.6%), England (2.2%), and Myanmar (1.8%). Languages spoken at home reflect this diversity, with 60.5% speaking only English, followed by Arabic (2.6%), Punjabi (2.0%), Italian (1.9%), Mandarin (1.7%), and Hindi (1.6%). Religious affiliations include Roman Catholicism (27.4%), no religion (22.4%), and Anglicanism (8.1%). 

Public transportation in Werribee is well-developed. It is centred around the Werribee railway station, which serves the Werribee line and provides residents with direct train services to Melbourne's CBD and surrounding areas. Additionally, several bus routes operate through the suburb, connecting it to neighbouring communities and essential services. 

The suburb hosts essential establishments catering to daily needs. Werribee Plaza Shopping Centre opened in 1985 and was rebranded in 2017. It now includes major local retailers, around 300 specialty stores, and major supermarket chains. Hogans Corner opened in the late 1990s, including a supermarket, several specialty stores, and fast-food restaurants. The Old Geelong Road commercial precinct features a variety of big-box homemaker and warehouse retailers. 

Recreational opportunities abound in Werribee. The suburb is home to several parks, including playgrounds and recreational areas. Skeleton Creek, running along the suburb's eastern edge, hosts healthy populations of native reptiles and provides walking and cycling trails. The Federation Trail opened in 2004, links Werribee with Brooklyn and Yarraville, offering additional routes for exercise and commuting. 

Werribee's combination of cultural diversity, accessible public transport, essential services, and recreational facilities contributes to its appeal as a residential suburb within Melbourne's western region. 

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