I have been visiting Werribee of late and it is still possible to buy a 3br place for under 150k with 600sqm land. Any thoughts on IP potential, Capital growth etc for Werribee
Does Werribee still stink?
- Thread starter round12tko
- Start date
round12tko said:
Hi round12tko,
I'm definitly not an expert on Werribee, but we have some family members who live there, and my fiance works in Hoppers Crossing, so I can give some insight. Firstly, as you've stated, it's incredibly affordable. Our family who lives in Werribee are in their early 20's (starting a family) and first home buyers, and the price, coupled with shops and transport, is definitly what attracted them to the area. On the other hand, as this is their PPOR, they weren't as concerned with CG, but for them was affordability and amenities. There's an incredible amount of undeveloped land in the surrounding areas, which would suggest prices won't be skyrocketing in value anytime soon. There are also some very "dodgy" areas, I believe near the train station is one of them (my soon to be niece left her car at a nearby shopping center for a few days and it was completely gutted - although in fairness this could probably happen anywhere). However, they still love where they're living, and seem quite happy there. But, (and again, i'm sure this could happen anywhere) - both of their neighbours have the most overgrown trash-ridden lawns I've ever seen.
Hoppers Crossing is also very affordable, and about 25km out of the CBD. My fiance is a pharmacist at the Chemist Warehouse out there. For what it's worth, he says there is way less druggies, theft in comparison to all the other chemists he's worked at (before then he's always worked in and around a 10km distance of CBD) - but on the otherhand, the Chemist is quite a distance from public transport, and generally in an industrial area, so it seems to attract the oldies and bargain hunters more than the thiefs and druggies. I've been out there heaps to go shopping and have really enjoyed it, they have every furniture/homemakers shop you could want. However, like Werribee, Hoppers Crossing has alot of undeveloped land around it, so I wouldn't see too much capital growth in the near future.
At the same time, both Hoppers and Werribee are right off the freeway, which could be helpful - if you're going against the traffic, this can mean 20 mins from CBD - with traffic, takes MUCH longer. (We're biased as my fiance goes against traffic, takes him less than 20 mins - we live in South Melbourne).
In all, I think they're very affordable and definitly attracting first home buyers as well as low income earners. The first home buyers, who are out there to live affordably while starting their family may very well help to clean the areas up, however with so much undeveloped land around, I don't see too much growth in the near future.
Hope this helps, and again, it's only my insights.
Cheers,
Jen
This is only a generalisation:
liveability does not equal to CG for werrribee
liveability does not equal to CG for werrribee
god weribee, i lived there years ago.
used to work at "ollies trolley" similiar to kfc. actually ollies trolly is now kfc. but i digress.
i think i know the dodgy area you're talking about i used to have a girlfriend who lived there
from memory it was called the "bird cage" as the streets were all named after different birds.
i dont remember it being that bad, but as i said its been a few years since i lived there.
cheers
shaun
used to work at "ollies trolley" similiar to kfc. actually ollies trolly is now kfc. but i digress.
i think i know the dodgy area you're talking about i used to have a girlfriend who lived there
from memory it was called the "bird cage" as the streets were all named after different birds.
i dont remember it being that bad, but as i said its been a few years since i lived there.
cheers
shaun
