VIC Werribee Werribee!

Discussion in 'Where to Buy' started by Westie, 6th Aug, 2017.

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  1. JProperty

    JProperty Well-Known Member

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    Sure but it's interesting if units are going for so much. It really means houses are too cheap. I'm expecting 30-50% cap gains for this area over the next 5 years whilst the rest of the market slows.
     
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  2. JProperty

    JProperty Well-Known Member

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    An article published today listing Werribee as one of the most mortgage stressed areas in Vic. (Nervousness grows about rate rises in the nation's suburban heartland)

    Keep in mind this is utter rubbish. As shown below, there aren't actually that many houses in Werribee with loans and those that have loans may well be defaulting giving a false picture. (22019 properties in Werribee and only 4700 loans. Of which most of these are under $1500/month repayment.)

    [​IMG]
     
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  3. private_number

    private_number Well-Known Member

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    That must be the statistics for JUST Werribee, correct? Some people discuss Werribee as a whole which includes all surrounding suburbs; Hoppers crossing, Tragunina, Tarniet etc etc.

    Would be interesting to see the statistics in all these parts of 'Werribee' rather than just Werribee alone.
     
  4. Westie

    Westie Well-Known Member

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    All these 20 years I've been around the SW of Melbourne, I haven't heard of anyone referring to Truganina and/or Hoppers as part of a 'greater' Werribee. They're all just suburbs in SW of Melbourne. Hoppers and Werribee used to be little towns a long time ago, as the old timers sometimes say, now of course they're part of Melbourne.
     
  5. private_number

    private_number Well-Known Member

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    Depends who you talk to.

    I grew up in the area and went to school there. I guess back then not a lot of young people knew where hoppers/tragunina/tarniet was but when you mention werribee, they do.
     
  6. Westie

    Westie Well-Known Member

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    You're not wrong about some people not knowing where Truganina (note the spelling too ;)), Williams Landing, Tarneit are. Werribee's been around for a long time, probably much longer than you and I have been on the earth, hence why people know about it and besides there's a train line with the name. All good mate.
     
  7. Spiderman

    Spiderman Well-Known Member

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    You missed out the main reason why everyone knows where Werribee is!

    Western Treatment Plant - Wikipedia
     
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  8. JProperty

    JProperty Well-Known Member

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    Don't forget these great places:
    -Werribee Mansion
    -Werribee Zoo
    -Vic State Rose Garden


    But yes, I'd like to see the treatment plant once again when it's open for visitors.
     
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  9. Westie

    Westie Well-Known Member

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    Slipped out of my mind. I worked there for 5 years too..
     
  10. private_number

    private_number Well-Known Member

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    Hahaha. You just made me remember a time when I went to an apartment party in year 12 and somebody asked where I went to school and they had NO idea until I said 'Near Werribee'. They then replied, 'near the **** farm?'
     
  11. Spiderman

    Spiderman Well-Known Member

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    The odd thing was that in Werribee the 'good side of the tracks' was nearer the farm (agents still say 'south of Synnot' as a selling point) while the lesser side was north of the tracks, further from the farm.

    Similarly in the south-east you have prestige suburbs (eg Waterways & Patterson Lakes) near their 'farm'. But for some reason it's not as well known as Werribee's.
     
  12. Wannabe Millionaire

    Wannabe Millionaire New Member

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  13. JProperty

    JProperty Well-Known Member

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    Needs some work but a small reno could easily get it past $600k.
     
  14. JProperty

    JProperty Well-Known Member

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  15. hieund85

    hieund85 Well-Known Member

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    Hi all PC experts, could you please give me your opinion about the following properties:

    1. 16 Richmond Crescent, Werribee
    http://www.domain.com.au/2014035438

    2. 17 Parker Street, Werribee
    17 Parker Street, Werribee VIC 3030 - House For Sale - 2014032917

    3. 4 Bailey Street, Werribee
    4 Bailey Street, Werribee VIC 3030 - House For Sale - 2014011315

    4. 5 Hodge Street, Werribee
    5 Hodge Street, Werribee VIC 3030 - House For Sale - 2014009458

    I am looking for my 1st IP with a budget $500k-550k, long term (10 years+) investment with CG, may subdivide after 5-7 years. Thanks a lot.
     
  16. Air_Bender

    Air_Bender Well-Known Member

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    Do you have a budget for a possible reno?

    If so then this one is my pick of the bunch:
    17 Parker Street, Werribee VIC 3030 - House For Sale - 2014032917

    Close to school, train station, massive rectangular block and good price point. Although I have a feeling it'll sell for much more.

    Good luck.
     
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  17. hieund85

    hieund85 Well-Known Member

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    I do have budget for small renovation (30k) now. It has great location, land shape and size like you said but the house is in very bad condition atm and I think would need a lot of work which will cost much more than 30k. My preference is to buy and rent out for 2-3 years and do renovation after that.
     
  18. Westie

    Westie Well-Known Member

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    Going off very recent sales, I'd wager 17 Parker would go for $600k+ easily. I'd go for 16 Richmond personally. New carpet, blinds and maybe a paint job would get it rented well IMO. I missed out on 18 Richmond earlier this year, it was a nice house and went for $445k (no reno was required at the time).
     
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  19. hieund85

    hieund85 Well-Known Member

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    I do like 16 Richmond one hence put it on the 1st place. What do you think about the price range for that one, Westie? Thanks
     
  20. Westie

    Westie Well-Known Member

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    Probably come close to $500k going off recent sales.
     
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