werribee

3030, Victoria

Real Estate & Property Information

Median
Price Rank
497

werribee Suburb Profile & Review

Few suburbs can lay claim to every animal in the jungle, but Werribee can. Werribee Open Range Zoo is a favourite with Melbournians for its wildlife safaris and overnight zoo experiences.

In many ways a self-contained city, Werribee is equal parts farming district, beachside suburb, and city suburb. Half an hour from the city on the Princes Highway, the area continues to welcome new residents every day. It's customary to stop for a coffee on Watton Street, overlooking the Werribee River, or pop into Hoppers Crossing to visit the ever-expanding Werribee Plaza, which will soon rival Highpoint as a major shopping destination. Among the many public and private schools in the area you will find MacKillop College and the Werribee campus of Victoria University. Werribee Mercy Hospital, which services the south-western region of Melbourne, can be found on the Princes Highway.

Families are spoilt in terms of activities. On the Werribee South Foreshore you can partake in boating, canoeing, kayaking and jet skiing. Werribee Park, set in the grounds of the stunning Werribee Mansion, hosts a Twilight Cinema during the summer, while Weerama, a festival featuring street parades and carnival rides, is held every March. There are even a few pubs and nightclubs along Watton Street for those in their 20s and 30s. Werribee Station sees regular train services to Flinders Street, and is the terminus for the Wyndham line.

werribee Demographic Data

$ 315,000 Median House Price

31 Minutes Average Commute

36 Median Age

37,737 Population

51.31 % Female

48.69 % Male

10004 NO OF FAMILIES

1.9 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in werribee, Victoria.

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werribee Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

werribee Median House Prices

  • 2008 $ 222,250
  • 2009 $ 240,000
  • 2010 $ 265,000
  • 2011 $ 305,000
  • 2012 $ 315,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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werribee 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in werribee have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term werribee property price predictions.

werribee Market Property Types

  • 83 % Seperate House
  • 8 % Semi Detached
  • 9 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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werribee Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

werribee Income & Mortgage Stats

  • $ 1,124 Median Weekly Household Income
  • $ 1,500 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in werribee

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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werribee Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

werribee Sold Property Prices

werribee Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

werribee Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

werribee Restaurants

  • Watton Vietnamese Takeaway19 Watton St werribee VIC 303003 9742 6088
  • Wyndham Cache Cafe243 K Rd werribee VIC 303003 9742 1526
  • The Park Hotel12 Watton St werribee VIC 303003 9741 1441

werribee Cafes

  • MiHub Cafe2 Recreation Clwerribee VIC 303003 9731 7877
  • Ali's Cafe43 Watton Stwerribee VIC 303003 9741 8322
  • Degani Bakery CafeShop 1, 54 Synnot Streetwerribee VIC 303003 8742 6336

werribee Schools

  • Victoria University of TechnologyHoppers Lanewerribee VIC 3030
  • MacKillop CollegeRussell Streetwerribee VIC 3030(03) 8734 5200Catholic Secondary School
  • Ames EducationSuite 7 & 8, 75-79 Watton Streetwerribee VIC 3030(03) 8744 0011Adult Multicultural Education Service

werribee Childcare

  • ABC Learning Centre39-41 Duncans Roadwerribee VIC 3030
  • Kids In Care81 Ballan Roadwerribee VIC 3030
  • Quantin Binnah CCC61 Thames Boulevardwerribee VIC 3030

werribee Kindergarten and Preschools

  • College Road KindergartenCollege Roadwerribee VIC 3030
  • Dr Charles Prouse Memorial Kinder5 Osterley Stwerribee VIC 3030
  • Heathdale Kinder55 Kookaburra Avwerribee VIC 3030

werribee Sporting Centres and Clubs

  • Little Athletics Centres, Vic Uni & Wyndham, Sporting Complewerribee VIC 3030Athletics Club
  • Werribeewerribee VIC 3030Golf Driving Ranges
  • Hoppers Crossingwerribee VIC 3030Netball Club

werribee Retirement Villages

  • Federation Residential Villagewerribee VIC 3030
  • Glendalewerribee VIC 3030
  • Heathglenwerribee VIC 3030

werribee Vets

  • Werribee Vet Clinic & Hospitalwerribee VIC 3030
  • Western Animal Emergency Ctrwerribee VIC 3030

Find out How Much your House is Worth in werribee

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