VIC Werribee 2018

It's really great to see these strong prices continuing in the current climate. The Margaret/High/Wyndham Street pocket north of the station, just east of Market Rd, has been consistently fetching $630-660k over the past year. Also amazes me that just a few streets away it's $460-530k.

 

Quite a few mini pockets with gradients like this exist in Werribee. Good value in the cheaper sides of the gradient? My logic being that they will eventually catch up. It happened for example in Kingsville, West Footscray, Braybrook, Brooklyn, Maidstone, Altona North etc

 

Only one in the North. Two others in the south. The last one should be considered in Tarneit.

Results are very good.

One issue with the North is it does not have any good school. The other is further from freeway access. But it is much closer to the train station.

 

Another one sold in the north:
6 Duke Street, Werribee, Vic 3030 - Property Details

Interestingly this came as advertisement on realestate website but cant find any additional details like sold price, advertised price etc.

 

Werribee Secondary College isn't too bad and is eligible for some of the houses in the north but the reality is most of the schools in the West are rubbish compared to their Eastern counterparts. That will probably change in some years.

Werribee median house price is up another $5k in August.

 

Werribee SC catchment only cover a tiny part in the North (before Scotsburn Grove). Yes, schools in the West (and North) generally cannot compete with their counterparts in the East but calling them rubbish is ... rubbish. Not all of them are bad. Some of them are pretty good even considering the Eastern suburb standard for example Werribee SC VCE and Naplan results easily put them in the top 30 public schools in VIC (better then several public schools in the East).

 

Hence why I said most of them. A few are decent as you mentioned.

 

26 Wedge St has a for sale sign out the front. Apparently listed at ~1m+. It was sold for 315K in October of 2013.

It's a 3 bed 2 bath 436sqm property on a corner that has a roundabout out the front of it. The price for this has apparently more than tripled in the last 5 years.

Yes it's had some impressive renovations done since it's sale in 2013, but as you can tell, I'm dumbfounded, I must be missing something. At this stage I'm assuming the floorboards are made of gold.

 

I don't think they can get the asking price. It is either a speculative price betting on the ACZ to be expanded or just an effort to test the water.

 

Sort of like all those $1+ million houses right next to the station. If they are left out there long enough some developer may snap them up. The council bought one of the recent sales around there, not sure what they plan to do with it.

 

You're at least getting a great sized block with those near the station. This Wedge street one is recently renovated on 430sq m. No development potential in it.

 

Hi everyone. We are in the market for our first investment property and are considering werribee and WV due to location relative to city and entry price. Local infrastructure is attractive too.

We have been driving around and researching but I was hoping someone local or in the know could give me some specific advice about which parts are consordered the better parta for investment and which to avoid.

Thanks so much

 

There's a TON of very valuable information in this ginormous thread, I'd strongly suggest reading like 10 pages a day!

In a snapshot, anything close to trains and major shopping is good for investing. The birdcage was something people avoided, but these even properties there attract serious $$. There's an activity zone area around the Werribee train station where properties hit close to a $1m.

 

What are your investment goals and criteria? There are too many variables to define a good investment.

 

Hah. You're still posting on Werribee!!!!

I tell you about my belief.
Education city in Werribee will NEVER be built without good direct train system to the Airport via Sunshine and other links to Werribee.

Even with the Greens government supporting a fast railway to Melbourne from Geelong. There's no train connection to Werribee

Even the Federal and State governments supporting an Airport rail from Sunshine. There's no train connection from Sunshine to Werribee

Even if the governments want to extend Avalon airport. There's no train connection to Werribee.

I can see Werribee commuters must use the old existing railway to the city without alternatives therefore There's NO Education city there mate.

Prices growth in Werribee is just a myth until people realize the fact.

You don't even understand the North as well.
I want to buy a property in the North due to a major upgrade for North East link before November 2018, a state election

 

The North in my post is the north side of Werribee. This is a Werribee thread mate. Regarding growth, did I say anything promoting Werribee growth? Did I say anything about the Education city, train to Avalon, train to Sunshine, etc? Whether Werribee growth is a myth or not, please check the stats or better ask some PC members here who have made a killing in the area.

 

I am wondering why there're so many smart people keep saying rubbish on this threat

 

I remember hearing this same type of waffle when I was purchasing in Werribee in 2015 early '16.
Fast forward 24-36 months from initial purchases.... my buy and holds are up over 30%. My development will return closer to 40%

Now I'm not saying this type of growth will continue. Werribee will most likely follow the sentiment of the current Melbourne climate.
But from what I've seen over recent weeks and months, there's still plenty of buyer demand in the area...both from investors and OO's.
However I don't think anyone is buying in Werribee soley on the back of the proposed 'education' city.

 

A friend of mine paid $278k for a house in the birdcage in early 2010. Bank valuation done early this year shows $535k. Near 100% increase within 8 years with no renovation. Another guy bought a property in Hoppers for $390k in 2015 and sold in 2018 for $640k (again no reno). Not bad huh!

I know plenty of people bought in Werribee/Hoppers due to the affordable price while still have all neccessary amenties and infastructure which do not include the education city or other fancy plans (suburban train loop etc).

 

Birdcage area kicked *** for returns, couldn't believe it and congrats to those that bought early on.

I just sold my last house in werribee and happy to take profits for now, I reckon I'll be back into the Werribee market for a large block that I can develop/Reno at a later stage when the market does its thing.