VIC Werribee 2018

Yes, most if not all of the growth occurred after 2015. I bought a 600sqm corner for high 200's in 2015. It's developed now but would easily be worth over 500k if I had just left it.
Building a 4/2/2 for mid 300's and a 3/2/2 for low 300's. Easy 30% gain on these....but yeah, no growth in Werribee.

 

Walking distance to the station and south side of Watton street are preferable. But birdcage properties are probably the best long term investment in Werribee at the moment. Lot of low socioeconomic factors at play but that is changing. Choose blocks that are good for development, such as 600m2 plus, subdividible and corner blocks.

Central Werribee has very good infrastructure with a traditional Main Street, Metro Train station and ample shopping and medical facilities.

I think investing in property now is a long term play rather than buy and flip. Choose wisely in Werribee and you should do well long term.

 

Yep, I did exactly this. At the time, for the same price I could have bought a place on a regular block in a better area, but went for the dev potential instead. Walking around the birdcage and I really didn't feel that it was as bad as it was made out to be (although I am sure someone will have some stories that say otherwise). Proximity to Pacific Werribee and freeway access is better than many parts of Werribee too. Rental yield isn't too bad either. Time will tell if I made the right choice... and as you say, it will probably need to be more of a long term play.

 

Getting harder to find bargains in the birdcage.
7 Cobbler Street, Werribee, Vic 3030 - Property Details

 

1/14 Cootamundra Court, Werribee, Vic 3030 - Property Details

What a bargain for this unit on a mere 300m^2....lol. Did someone forget they were buying in Werribee?

 

Wow! Big premium for the shiny new stuff and that far out from amenities.

 

That area (Wattle Grove estate & surroundings) while further from amenities, is considered the premium area of Werribee.

Just look at sale prices of homes close by on John Street, Little John court ect. So these smaller places have had their prices dragged up as well. For now anyway.

 

At least it’s SOS, not in the ‘Cage

 

Yeah I know but $.5m+ for a small unit is a lot of money unless the purchaser 'has' to live there. Like they say, the rising tide lifts them all..

 

New East Werribee precinct push - Star Weekly

 

$2.75 million for this one. Huge house and block, 1.6 km from station. Very close to proposed precinct. Is $1025/sqm good buying in Werribee? I have no idea. 93 Princes Highway, Werribee, Vic 3030 - Property Details

 

Huge corner block probably with plan for a medical complex.

 

Prime location with good scope for commercial real estate.

 

South of Synnott has excellent access to the Princes Freeway, Princes Highway, East Werribee Employment Precinct, Werribee town centre, Metro train and the medical precinct. I’d think that will be good buying long term.

 

Agree.
That part of Werribee, during off-peak, you are looking at 25-30min to get to the start of the CBD by car.

 

Pardon my ignorance, but what are the birdcage properties?

 

Get a big map and look at all the street names north of the railway. A big chunk will be named after rivers while another big area will be named after birds.

 

The “Birdcage” is bordered by Derrimut Rd, Kookaburra Ave, Cemetary Rd and Railway Ave. It is ex/current housing commission I believe. Was/is a ‘bad’ area but low prices are attracting a gentrification effect. Getting harder to get a bargain, but not impossible.

Look south of Synnott street for the ‘Toorak’ side of Werribee.

 

Now I have heard it all

 

A pretty good weekend in Werribee with nice weather and strong auction result (compared to other areas).

4 College Road Werribee Vic 3030 4 College Road, Werribee, Vic 3030
Small old house on a small block with Heritage Overlay still get $500k, a pretty good price.

25 Centre Avenue Werribee Vic 3030 25 Centre Avenue, Werribee, Vic 3030
A standard 3bed 2bath (very small ensuite) 1car on a 530sqm block in a average condition and location was sold for $537k. A very good result especially compared to what happened to 16 Richmond Avenue few months ago.

Meanwhile, 2 houses in good spots and condition in Hoppers were both passed in which would be sold easily last year.