Thoughts on Werribee?

[albanga]

Hey All,
Was curious as to what people's thoughts are on Werribee in Melbourne's "New West"?

House prices for a decent condition 3 bedder on 600m2 seem to be selling around the 300k mark. Rental yield is just on 5%

The council seems to have some big plans for its future:
http://www.wyndham.vic.gov.au/business/investing/werribee/werribee_city_centre

There are also plans for the Avalon airport expansion, but I do not know too much about that.

Anyway just throwing it out there

 

[S.T]

Make sure you're not down wind of the poo farm.

 

[Dave_R]

The areas of Werribee known as Birdsville (streets with bird names) and Woodville (bordered by Derrimut Rd, Heaths Rd and the train line) have a bad rep.
A guy I work with who lives in the part of Werribee south of the train line reckons that's the more well-regarded part of Werribee, and AFAIK is mainly newer housing.

Werribee will probably do OK long term, but right now there is an oversupply of housing in the Wyndham area generally. I doubt the proposed Avalon expansion will do much for values. The flights there will still be limited compared to Tullamarine because of the distance from the city. Would mostly continue to be used only by Geelong people and locals I suspect.

 

[mystery]

Hey All,
Was curious as to what people's thoughts are on Werribee in Melbourne's "New West"?

House prices for a decent condition 3 bedder on 600m2 seem to be selling around the 300k mark. Rental yield is just on 5%

The council seems to have some big plans for its future:
http://www.wyndham.vic.gov.au/business/investing/werribee/werribee_city_centre

There are also plans for the Avalon airport expansion, but I do not know too much about that.

Anyway just throwing it out there

Albanga, ... there were a few threads a few years ago that discussed Werribee in detail .... I would imagine a lot of the views and opinions would still be relevant today. Try the search function they should be fairly easy to find.

All the best

Mystery

 

[Jerry Maguire]

I'm looking to buy into a place near Melton which is just
a block of land and develop later.

Werribee is not too bad but around Melton would have massive
Capital Growth in the next 5 yrs once the freeway connection is done.

 

[CHAOS]

I'm looking to buy into a place near Melton which is just
a block of land and develop later.

Definitely no shortage of those Jerry.

 

[mystery]

I'm looking to buy into a place near Melton which is just
a block of land and develop later.

Werribee is not too bad but around Melton would have massive
Capital Growth in the next 5 yrs once the freeway connection is done.

I have IP's in Melton JM .... What freeway connection is happening?

I keep reading the prophets of doom posts re: Melton, but it continues to provide me with capital growth and good rental yield. My wife and I have done well with our Melton IP's as have a few other SS forumites.

Do your own DD and if you are comfortable with the facts and it meets your criteria then base your decision on those facts not on other people's opinions .... they will always differ from yours anyway.

Mystery

 

[LoneWolf]

Q: Thoughts on Werribee
A: It smells

 

[jacked]

hey jerry.. what freeway connection are you talking about for Melton? cheers.

 

[Mr. Fabulous]

Do your own DD and if you are comfortable with the facts and it meets your criteria then base your decision on those facts not on other people's opinions

I like this guy.

 

[hnl]

at the beginning of the year werribee had properties under 300k looking now theres none under 350k