VIC Werribee 2018

Not necessarily $100k extra, here are comparable ones (smaller blocks I agree):

1. 2 Balding Avenue, Werribee, Vic 3030 (This one will require carpets, paint, kitchen and bath, admittedly)
2. 50 Russell Street, Werribee, Vic 3030 (Step right into this one, maybe new carpets)
3. 10 College Road, Werribee, Vic 3030 (Step right in, reno'd, but goes to auction)

To each their own, I'd rather live in nicer part of the area in an older home rather than a crappier part in a shinier home. Yes, Werribee is undergoing gentrification, it'll take several years for Market Rd and some surrounds to lose its stab central moniker.

 

Sorry, but can’t even compare to the newish 4 bedrooms 2 bath house on the river. I’ve been looking for the one on the river for quite a while. I have 3 kids, and no time for renovation. Those houses have potential for investors I guess.
But to live in straytway and have a walk to the station and ride bikes on the river trail is big advantage for my family.

 

Fair enough then. Maybe you could delay moving in for say a week, have a painter and carpet-layer lined up to begin right after you have the keys, just an idea.

 

One can always request early access (subject to seller approval) to undertake reno while waiting for settlement. The last property I purchased, I got the keys on the same day I paid the deposit and got finance approval. The house renovation took 6 weeks and was completed 1 day before settlement. Tenant moved in the day after settlement.

 

With $650k-$700k you can get a nice house in a nice pocket on the south side. For a PPOR, I would not choose the North side.

 

I saw this one last Saturday. Nice house in a quite court. No renovation needed. The living area is huge with views to the Werribee River. There’s also direct access to the river trail via a back gate.

 

PPOR on the north-side *western* bank of the river is fine. Eastern bank, completely different story.

 

Agree. But if I have a choice, the south side is still my personal pick.

 

that college road house is by far the pick of the bunch
given I have no intimate knowledge of the area

 

Mine too, all things being equal I prefer the south side.

 

Agreed and with the various works around the area it can only improve. A much faster walk to the station than Synnot st too.

 

I say go for it. You want to live on the river in a new house. You do take a gamble on how long the Market Rd area takes to gentrify. But I guess you are one of the many people who will move in, build community and gentrify the area.

 

Some strong sales around the area.

 

@JProperty are you referring to Market Rd area or Werribee in general?

I was under the impression Werribee as a whole has gone soft over the last 3-4 months after holding up better than alot of other areas previously. Anyone on the ground care to share their observations?

 

I meant more generally in Werribee. Maybe not huge volumes but some great strong sales coming through.

 

I'm seeng the opposite, sale prices are down from last years peak. I'm getting agents calling and asking if I want to buy. One agent called and said stock is not moving and it's the worst he's seen gfc.

 

Lol, do you mind PMing me which estate agent is selling cheaply? Would be interested in some bargains but so far haven't seen many properties sold for total bargains.

 

Sure, this is near 650sq, crazy price. Would have sold 500k ++ last year
21 Jabiru Court, Werribee, Vic 3030 - Property Details

 

The land alone last year was worth that price
9 Somerset Close, Werribee, Vic 3030 - Property Details

 

This would have sold mid 400's last year, perhaps even start of year.

1 Swallow, Werribee, Vic 3030 - Property Details