Project Sub Urban
The place to find your own mansion: Investing in Werribee
In an ongoing series of Melbourne suburb profiles, Jeff Grochowski from Accrue Real Estate discusses the lifestyle and property investment potential of Werribee.
Situated on the Werribee River and approximately halfway between Melbourne and Geelong, Werribee is easily accessed along the Princes Highway. Werribee was originally settled in the 1800’s, with development spikes in the early 1900’s, just prior to World War 2 and the 1960’s. This means there are period homes and older family homes amongst the more contemporary developments.
Werribee is a popular day trip destination; the Open Range Zoo is a marvellous day out for the whole family while the historic Werribee Park, offers relaxing spas and a beautiful mansion with stunning formal gardens.
For residents, Werribee is much more than a tourist destination. The suburb offers fantastic shopping, a number of quality schools, a range of parks providing diverse recreation activities and easy beach access. Given these features, Werribee is largely made up of established couples and families, but it also has a large percentage of empty nesters and singles.
Water is one of the keys to the Werribee lifestyle, whether it be cycling the Werribee River Trail, or fishing on the foreshore. The suburb offers something for the whole family - theatre at Wyndham Cultural Centre, outdoor concerts at Werribee Park and even wine tastings at Shadowfax Winery. A local shopping strip at Watton Street provide day-to-day shopping needs, but for real retail therapy there’s the mall at Werribee Plaza.
With the median price for a 1-bedroom unit under $300,000 and a 2-bedroom unit at $515,000*, Werribee represents a great place for investment. With 14% of the population aged between 25 to 34, a group consisting of those who are beginning to build a family and those with young families, meaning a high rental demand and diversity of tenant.
With its proximity to the city centres of both Melbourne and Geelong, Werribee could be the place for your next investment.
Contact Accrue Real Estate to learn more about Werribee and other Melbourne property investment opportunities. *realestate.com, updated April 16th, 2018. Werribee - By Bob T [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], from Wikimedia Commons
Contact Accrue Real Estate to learn more about Pascoe Vale and other Melbourne property investment opportunities.