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.
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Check your Contracts Before Making an Offer
If you are serious about purchasing or selling a property with the least hassle then you should engage the services of a reputable conveyancer or lawyer who specialises in property. Have your contracts looked over before buying your next dwelling, for any possible concerns like easements, titles and any caveats, body corporate rules, zoning and planning potential issues.
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A depreciation schedule of your investment prepared by a Quantity Surveyor for the purpose of claiming against your taxable income. There are two main elements taken into account when preparing this report.
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$ 315,000 Median House Price
31 Minutes Average Commute
36 Median Age
37,737 Population
51.31 % Female
48.69 % Male
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.
Learn more about dataThe 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.
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.
Learn more about dataHere 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.
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.
Learn more about dataTypically, 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.
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.
Learn more about dataTo 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.
139 TARNEIT ROAD
15 BRENTWOOD DRIVE
117 WALLS ROAD
18 ROWES ROAD
28 TORRENS STREET
42 GRANT AVENUE
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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