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VIC Melbourne West area - the "Birdcage"

Discussion in 'Where to Buy' started by dabbler, 16th Dec, 2015.

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  1. dabbler

    dabbler Well-Known Member

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    Hi All, does anyone here have, or in the past had a house in the ex housing area of Werribee, it is one part of the suburb and bumps up close to Hoppers crossing.


    What are your experiences or even just opinion/thoughts ?

    PS it is either an old unit, or a free standing house in ex housing as my options it seems.
     
  2. EN710

    EN710 Well-Known Member

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    Why? What are you looking for in the area?
     
  3. dabbler

    dabbler Well-Known Member

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    Least outlay for low holding cost, good rental, and potential to be dragged forward over time.

    Are you familiar with the area and housing there ?
     
  4. EN710

    EN710 Well-Known Member

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    Nope :)
    However, Werribee is quite out west with a lot of supply of land and new house. I can't imagine units to be high in demand?
     
  5. dabbler

    dabbler Well-Known Member

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    I would imagine units (villa, townhouse etc) would do ok if positioned well.

    There are places in Sydney that were considered as way too far away, 10-20 years makes them very much desirable, peoples perception changes as do the attitudes of generations. In fact I now live in a place that I would have thought one would be "nuts" to live in not too long ago, but then again, I could just be going nuts :)
     
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  6. Barny

    Barny Well-Known Member

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    Hey dabbler,

    I have a house and a unit near west grove primary school, which is close to the birdcage but not in it.
    When I first researched the Werribee area, the homes in the birdcage were giving excellent rent returns around 6.5%
    In the last few years they have also gone up in price slightly.
    The areas near the birdcage will bring in a much better tenant and hopefully give you a better chance of growth as it also doesn't have the stigma attached to it, and the lower socio crowd that live there.
    You can purchase houses near it for around 250k-300 and rent for 300-330ish.
    Mine both rent for 320 a week each and are worth 310-330k each. never had an issue getting tenants, always rented within 1-2 weeks. Gone up in value about 30k each.
    It's interesting as once you pass heaths road which is very close, property prices are much more expensive to buy, also towards hoppers crossing. So I personally see more growth occurring, but in a long term buy and hold. There is a major stigma attached to Werribee and will be there for some time. I think it has excellent potential and will do well over the years. If you can see past what most say about the area, generally most that comment don't know much about it anyhow.

    The birdcage can work, but I see better value near it at similar buy in prices and rental returns. If you buy there your going to attract that specific tenant only, and if you sell in the short term you will loose most first home buyers as they wont want to live there.

    To give you an example of a place near the birdcage that will give you better tenants, this one sold recently, can use a little paint and love etc and will rent for 300-310 a week. 240k sold, subdivision potential too.

    Sold Price for 20 Seine Close Werribee Vic 3030

    Other house near there are 290+
     
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  7. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Hello,
    Bird cage in good old Werribee is a sleeper and will present some long term capital growth only if you bought a home under value.

    The biggest issue if you are looking at holding the property is the quality of tenets.
    So yes there will be some future capital gain but rental yields are pretty limited for the time being.
     
  8. sash

    sash Well-Known Member

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    Werribee is now officially on the map....the prices have started lift dramatically....you could have bought for well under 300k early last year...even 250s...now they start from 300k odd.....I just had an agent appraise my crappy house there at 310k....I am planning to knock it down....

    Also hearing that Melton is also on the cusp of more growth.......
     
  9. Barny

    Barny Well-Known Member

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    Werribee...go you good thing. My favourite purchase so far. I don't have kids but I imagine if I did, it would be like your kid taking their first steps...Werribee is starting to walk and I'm excited.
     
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  10. sash

    sash Well-Known Member

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    Good stuff Barny...lots of naysayers but it starting to come good.

    I bought mine in 2007 for 130k....I plan to put 2 houses on it...at some stage...I was gobsmacked what a new house there in the established part of Werribee is getting...high 3s for the right product.

    When did you buy yours and at what price?
     
  11. JacM

    JacM VIC Buyer's Agent Business Member

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    The birdcage area has been a problematic area for a long time. It takes a really long time to thrash these problems out. Areas that have long winding streets running through them like varicose veins tend to be like this. You have to drive down that street to get to the smaller cul-de-sacs, but there is no way of getting around having to drive down the problem street. With so many property owners it's unrealistic to presume they will all simultaneously decide to polish their properties up at the same time.
     
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  12. Connor

    Connor Well-Known Member

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    Hence the lower buy in prices and better yields. Driving through the birdcage now I'm seeing more and more building activity/subdivisions by the month...and less VN commodores parked on the nature strips.. Its been a long time sleeper but its starting to wake and I think prices will continue to steadily rise as they have been. Its certainly located well, 5min to freeway, Pacific Plaza and Werribee town centre.
     
  13. PorkBellyLover

    PorkBellyLover Active Member

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    Newbie question, which areas make up this birdcage?
     
  14. Barny

    Barny Well-Known Member

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    When a new freeway east/west link finally happens, then prices will jump hard.
     
  15. Gwynneth

    Gwynneth Well-Known Member

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    Yes I have the same question as above, where is this birdcage/housing commission in Werribee?

    also, which streets/area would be best to look to purchase an established house as IP? I didn't realise that this suburb is huge!
     
  16. Connor

    Connor Well-Known Member

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    @PorkBellyLover @Gwynneth

    Its the part eastern of Werribee that borders Hoppers Crossing. All the streets are named after birds. eg, Budgie Crt, Kookaburra Cres etc... So it was nicknamed birdcage..
     
  17. Gwynneth

    Gwynneth Well-Known Member

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    @Connor thanks for the info! Interesting. It's very close to the shops and some schools.

    Is the south side of the train station better than the north?
     
  18. Connor

    Connor Well-Known Member

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    I guess it depends what you mean by better? In terms of visually and feel around the area it's better, but in regards to investing it depends on what you're doing. Personally i've done better investing in the northern part of Weribee over the last 18 months than i would of done in the south.
     
  19. larrylarry

    larrylarry Well-Known Member

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    I was rather impressed when I went to Werribbe Pacific. Had foot massage before flying back to Sydney.
     
  20. Gwynneth

    Gwynneth Well-Known Member

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    @Connor thanks! I've asked one of the selling agents and she said it's a huge area, her first question was, where exactly in Werribee lol