VIC It's Werribee but not as you know it - high-tech city for 100,000 proposed

Odd isn't it. Ask most people in Melbourne about Werribee and that's the first thing they think of.

But in Werribee itself some of the most favoured parts are on the sewage farm side of town. Hence ads will say 'south of Synnot St' or 'southside beauty'. And Westleigh Gardens (and the new bit nearby) is dearer than (say) Wyndham Vale or Werribee north of the tracks.

It has been interesting to compare the diverging fortunes of Melton (a similar low priced outer suburb) and Werribee/Hoppers in the last 10 years.

Melton has gained population, an expanding Woodgrove shopping centre, Tabcorp Park and limited improvements to its country train services. However education remains a sore point and arguably the area has gone backwards - it was hit by the failure of Mowbray College while Victoria Uni withdrew courses from its Melton campus. Changes at Melton and Sunbury campus Also the employment base of Melton is extremely weak - limited to local service industries eg retail. Hence Melton has the greatest rate of long distance outcommuting of any municipality in Melbourne. Its major shopping, civic and transport hubs are disconnected and its estates are notoriously difficult to serve by bus. Melton has multiple fronts of development and land is basically unlimited. There doesn't seem to be much in store for Melton apart from more houses. Having said that one would expect Woodgrove shopping centre to be a cash cow since there are no similar competing centres for miles around.

Wyndham has also gained population and has an expanding Werribee Plaza. Services have been improved on its Metro train line with new stations and more express trains (at the expense of passengers at Altona). In 2015 a new regional line opened to Tarneit and Wyndham Vale and much of the area is served by direct and more frequent major bus routes - made possible due to a more direct road network compared to Melton. Education has grown with Suzanne Cory selective school opening, along with plans for Werribee East (which may or may not happen). Though Werribee Plaza is big, shopping in Wyndham is more decentralised and most homes are nearer supermarkets. There is also more development and stronger town centres around train stations. Large investments have been made in recreational facilities eg new sports and aquatic centres opening in the last year.

Not all parts of Wyndham are equal - some of its dearer parts (eg Sanctuary Lakes) have severe congestion on Point Cook Rd. Wyndham's demographics have completely changed, with it moving from basically Anglo to largely migrant base in about 10 years. This may lead to more global links and potentially foreign investment.

Wyndham has many similar social problems to Melton. There's still not enough jobs. And there should be more higher education choices. But its nearer major employment areas (CBD and Laverton North) and seems to be better equipped to grow in a more balanced fashion (ie jobs and education as well as housing).

 

Great insights @Spiderman
I have the same feeling that the area is better equipped to grow but the growth will be staggered. Truganina/ Tarneit in the next 5years followed by Wyndham vale/Werribee in 5-10years. Once all the land releases have occurred and there is no more land in the area, watch the prices skyrocket (which is of course 10years foresight).

 

Any suburb will have a growth in 8 years time, as long as it is not too remote, especially in areas closed to a capital city anyway

 

there's woodlea which is in btw those(with has been voted as most affordable in australia). Apparently as the herald sun quoted "Woodlea Estate, at Leakes Rd, Rockbank, has been identified as the city’s fastest growing community and the No. 2 nationally."

i might browse and have a look (you normally have 1.5- 2 years before the land settles)

No CookiesHerald Sun

 

Hi @melbournian, which area that you're talking about ?

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@Tekoz
that's the developer site for the land

Woodlea | Home

that herald sun link should work (but i think it requires some subscription)

 

'Most affordable' means cheapest and not necessarily best value. Woodlea is in the middle of nowhere, has no local services and is destined to be that way for years. Even established and populated areas like Melton struggle and although big things are planned for it, Toolern is highly speculative.

 

Yeh but that's doubled in 8 years

 

Great post Spiderman!

 

Insightful post, Spiderman !

Don't know if people saw this .... how will this proposed AEC impact the Wyndham area ?

State Government names Australian Education City as preferred developer for East Werribee
November 6, 2015 4:12pm
Sarah Anderson Wyndham Leader

An artist impression of the East Werribee precinct.
A WATERFRONT precinct with skyscrapers reminiscent of Docklands could be created in East Werribee under bold plans backed by the State Government.
The Government today announced the Australian Education City consortium as its preferred developer for a 400 ha section of the suburb which includes the town centre, jobs and education precincts.
East Werribee, as a whole, will create 58,000 jobs and have 7000 homes. The AEC plans include 50-level skyscrapers, a lakeside entertainment precinct and hubs for hi-tech industries and education. A mix of apartments, townhouses and houses are earmarked for the site.
A network of “smart underground tunnels and carparks” and a high-frequency transit system are planned.
The plans will now go through a rigorous approval process before the Government signs off on a contract.


An artist's impression from preferred bidder Australian Education City consortium.
An AEC spokesman said the consortium was pleased to be selected as the preferred bidder.
“We will now be focusing on the next phase of this exciting project that we believe has significant benefits for the Wyndham community,” he said.
Wyndham Mayor Adele Hegedich said the council welcomed the “significant progression” of the development of the site.
“It’s fantastic to see such a bold and exciting concept as the Australian Education City which will see thousands of high quality jobs created and has the potential to transform not only Wyndham, but Melbourne and Victoria,” Cr Hegedich said.
“The confidence and enthusiasm in Werribee shown by the proponents of the proposal confirms our position as the capital of Melbourne’s new west.”
Finance Minister Robin Scott said the Government was following strict probity and due diligence in the market process to ensure the final proposal provided the best outcome for the local community and value for Victorian taxpayers.
“The development of East Werribee would be a potentially significant investment in Melbourne’s west and a boost for Victoria’s economy,” Mr Scott said.

 

Great if it's built but the track record isn't that good.

Remember the 'Multi Function Polis' of the early '90s?

Many people here will know Bill Zheng who is behind this.

It also has the backing of former premier John Brumby - which possibly helped the government make its choice.

I'm thinking about what some entrepeneurs (possibly including Bill Zheng in the past) say - ie that money is an idea. 'Creating' wealth, worth and adding value is an idea. Like how Matthew Guy's rezoning marginal and inaccessible land at Fishermans Bend made a lot of money for some people - even though the value and profits was based on an idea - not an actual building being constructed.

Governments have wanted to decentralise stuff to Paramatta or Dandenong, Broadmeadows, Woden, Joondalup or Sunshine etc.

But what invariably happens is that designated centres get a spurt but aren't necessarily enduring. Eg govt departments pulling out of Woden or a recent departure from Paramatta.

The areas that seem to gain are near CBD periphery areas that weren't considered much of a centre and weren't necessarily in any plans. Eg look at all the new high rises in South Yarra.

It would give a boost to the area and it would be great if it happened.

But even though there's a logic to bringing jobs and education to where the people are (ie the outer suburbs), universities have been doing exactly the opposite by shutting down their outer suburban campuses (eg Sunbury and Melton) and forcing students to commute far in. The very best If they're lucky is it becomes a political issue, a government steps in and the uni becomes a TAFE - eg what's happening to the former Swinburne campus at Lilydale.

 

That sounds 50/50 chance of a growth in this area.

Is there any alternative to Werribee to invest under $350k ?

 

For that price you can buy a larger block in the west, with an existing home on it, rent it for cash flow, and have the chance to build on it later adding a home and create equity if you choose too. Least that way you can create some wealth instead of waiting for it to happen.

 

Werribee features in this 'Age' article. Local councillor/mogul has fingers in many papadums and is seeking to get into state politics. The incumbent MP he hopes to succeed is most known for his branch stacking and laziness.

Labor's king of bling: tricky questions for the man with it all

 

@Barny Ah I see,
So which area in the west that you mention ? is it Melton, Geelong or Ballarat

 

Dude that post was ages ago lol. I was referring to Werribee(west).

 

Ah OK, I was not able to buy in Werribee due to loan serviceability issue .
Maybe one day when the market crash or the interest rate hiked up, I'll be able to buy some bargain there.

 

Werribee and surrounds is going nuts......the same signs are there for Melton....the expensive newer estates are pushing up the prices of the older stock........not quite a Werribee and surrounds level but moving fast...

 

Are there opportunities outside Victoria that make sense in house and land areas? H&L in Brisbane, Adelaide or Hobart for example? Or is it all vic at the moment?

 

Looked at Hobart and it was expensive to build. Adelaide offers opportunities but again a bit more than Melbourne.

Melbourne/Geelong made the most sense...to buy in for say a turnkey H+L for 260k to 330k and have it rented for 320-380k per week. Also instant equity of 60-80k is not too shabby either for moving a couple pieces of paper. Bear in mind it requires some risk as I am buying some of the land off the plan and waiting up to 12 months for it to settle.