VIC Werribee Werribee!

Yeah right. One thing is, I've been through some circumstances when the agent said firmly that the property would go to auction, just to find out that it was sold a few days later at not so fancy price. Other than a dire need of cash, I find it not straightforward to see why some let their properties go at a price considerably lower than the market.

 

Are you referring to 48 Mortimer st.? It's GRZ1 not ACZ

 

The one on Greaves isn't in ACZ. ACZ ends at Mortimer st.

 

Correct. It's now up for $430k

 

Yep, I stand corrected.

 

just looked at crime stats in the area..



is this a low socio economic area?

 

Sure is, but not as bad as some of the nice eastern suburbs riddled with the apex gang.

 

Is anyone familiar with the various pockets of Werribee?

In particular the 2 properties I looked at today are:
4 Tiber Close Werribee Vic 3030 - House for Sale #125645586 - realestate.com.au

8 Wallara Road Werribee Vic 3030 - House for Sale #126194942 - realestate.com.au

Curious to hear peoples thoughts on the 2 pockets. Tiber is much closer to Pacific Werribee where as the Wallara property seems to be in a less developed part of the suburb

 

similar prices? What are your thoughts?

Tibor is close to westgrove primary school and parents renting love it. And as you say closer to pacific Werribee. I reckon with a clean up it should rent around 320/330 a week. Not sure wallara road

 

Yeah similar prices. Wallara has a newer kitchen but Tiber has ducted heating. You're right about the primary school and potential rental return. It's currently tenanted for $300 till December so could look at doing a minor reno/clean-up after that to increase the rental return.

Walked through Pacific Werribee today and it's quite nice. Has some decent shops with Myer, H&M, Uni Qlo, Village cinemas etc.

Not many places left where you can buy a 3 bedroom house on a 500+sq block under 35km's from the city for under $500k. If the education precinct goes ahead the area should continue to appreciate I think

 

Education precinct, tell me more

 

No Cookies | Herald Sun

 

Hurry, this may be a good buy. Walkable the trains, 5 mins from Pacific Werribee shopping. Probably needs some reno to find lasting tenants. 4 Rock Street Werribee Vic 3030 - House for Sale #126258790 - realestate.com.au

 

Wonder what it will sell for. How much does land alone per 300sq cost in the area?

 

If I had the BC left, I'd try with $430k given how hot it is in the area.

 

Saw this last night, ahh I really hate weatherboard lol.
It would need a new kitchen, guessing bathroom, paint, flooring, lighting so I'm estimating around a $20-30k.

Had a look at sold prices in the area and it's hard to gauge what the place would we worth. Might speak to the agent and see if vendor would consider an offer in the bottom half of that range, I'd defs go subject to B&P which may weaken my offer though

 

Start by looking at all recent sales in the area, check block sizes and compare.
It also needs work as you say 20-30k, work out land value as well. Does it still stack up?

 

I reckon you could get by with flooring, carpet and paint? Leave the kitchen and bath for later.

 

WERRIBEE
6 Feijoa CtWithdrawn
5HouseYPA Estate Agents Werribee
11 Gundaroo SqPassed In
4HouseStockdale & Leggo Werribee
91 Latham St$540k max bidPassed In
4HouseTriwest Real Estate The Professionals Werribee
5 Nuragi Ct$635k
4Househockingstuart Werribee
3 Sky CtPassed In
3HouseBarry Plant Werribee

5 auctions reported, 1 sold, 1 withdrawn and 3 passed in. Has the fizz already run out from 1st July Stamp duty changes. I live in eastern suburbs and went to 4 auctions found that the buyers are there but just not at the prices the vendor wants. So not a moving market at the moment with not much urgency from buyers

 

You're looking at the higher end market around 600. Lower priced are selling very well. Need to see stats on overall Werribee market to see if anythings changed.