woodend

3442, Victoria

Real Estate & Property Information

Median
Price Rank
254

woodend Suburb Profile & Review

Once a resort town in the nineteenth century, Woodend today remains home to lavish mansions, private gardens, hotels and golf clubs. The area is well-known for its proximity to Hanging Rock, the mysterious, awe-inspiring rock formation at the centre of the infamous Picnic at Hanging Rock. The rocky outcrops provide stunning views over the Great Diving Range, while the reserve at their base contains a discovery centre, a cafe, picnic facilities and a racecourse. Hanging Rock Winery, one of the many sumptuous wineries in the region, can be found in the surrounding countryside.

Charming cafes, restaurants, book stores and antique shops line High Street, the town's main thoroughfare. Here you will also find the 19th Hole Shopping Centre, which contains a Target Country and a Bilo supermarket. Sports grounds in the area are complemented by some truly beautiful scenery the Woodend Golf Course, with its entrance on Davy Street, is built on the slopes of an extinct volcano while mountain bike tracks can be found in the Wombat State Forest.

Many of Woodend's 3,000 residents commute to work and school, though there are prestigious private schools in the region such as Braemar College. Woodend Station provides hourly train services to both Melbourne and Bendigo.

woodend Demographic Data

$ 498,000 Median House Price

52 Minutes Average Commute

41 Median Age

5,413 Population

52.61 % Female

47.39 % Male

1456 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 woodend, Victoria.

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woodend 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.

woodend Median House Prices

  • 2008 $ 325,000
  • 2009 $ 350,000
  • 2010 $ 350,000
  • 2011 $ 521,750
  • 2012 $ 498,000

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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woodend 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 woodend 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 woodend property price predictions.

woodend Market Property Types

  • 98 % Seperate House
  • 0 % Semi Detached
  • 2 % 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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woodend 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.

woodend Income & Mortgage Stats

  • $ 1,445 Median Weekly Household Income
  • $ 1,647 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 woodend

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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woodend 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.

woodend Sold Property Prices

woodend 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.

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woodend Cafes

  • Tempt Cafe Treats5 & 6/115 High Stwoodend VIC 34420421 320 031
  • Andrew's Mountain View Cafe77 High Stwoodend VIC 344203 5427 2470
  • Bites112 High Stwoodend VIC 344203 5427 4808

Find out How Much your House is Worth in woodend

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