Werribee has been revealed as the star performer of Wyndham’s real estate market in 2021, according to the Real Institute of Victoria (REIV).
The REIV has released figures showing Werribee’s median house price grew by 14 per cent to $593,000, in the 12 months to December last year.
Point Cook placed second on the list with its median house price rising 12.7 per cent to reach $745,000, and Truganina came in third with an 8.6 per cent rise to hit $630,000.
Hockingstuart Werribee director Eric Bartz said Werribee has been “really popular during the past two years because of a few things” including its proximity to the Melbourne CBD and the coast.
As well, Mr Batz said the fact that Werribee Secondary College offers an International Baccalaureate (IB) to students was a major drawcard for buyers.
He said houses within the school’s zone, including those “southside of Synnot and Watton streets” were big-ticket properties.
“It’s a strong point for buyers who want to be in that zone, houses in that zone sell extremely well,” Mr Bartz said.
“It’s now an up-to-$1 million market and above.”
Mr Bartz said that three and four-bedroom houses set on 600 to 700 square metres of land, located within the college’s enrolment zone, have been attaining such prices.
In November 2021, 11 Gibbons Street, Werribee – a four bedroom home set on 714 square metres – sold for $1.47 million.
Mr Bartz said that all Wyndham suburbs, including Point Cook and Hoppers Crossing, were “doing well” at the moment in terms of buyer interest and sales.
The REIV figures show that the 2021 median house price in Williams Landing increased by 8.1 per cent to reach $800,000.
Hoppers Crossing’s median house price increased 6.7 per cent to reach $586,750 and Wyndham Vale’s by 6.4 per cent to reach $572,000.
Manor Lakes’ median house price increased 3.7 per cent to reach $612,000, while Tarneit experienced an increase 2.5 per cent to hit $605,000.
The median price of Werribee units increased 11.7 per cent to reach $297,500 and Point Cook units rose 6.1 per cent to hit $525,000.
The median house price in metropolitan Melbourne grew by 4.2 per cent to hit $1.12 million, with houses in outer Melbourne climbing 16.4 per cent to a median of $815,000.
