House prices in Werribee and Point Cook moved against a statewide trend to rise by 9 per cent between June and September.
Latest figures from the Real Estate Institute of Victoria show house prices remained stable across Victoria in the September quarter.
But the median price in Werribee rose from $306,500 in June to $335,000 in September, while Point Cook’s median price reached $498,000, up from $457,000.
Harcourts senior sales partner Michelle Chick said Werribee and Point Cook were popular with buyers because of their proximity to the city.
And prices in Point Cook were higher than most other suburbs in Wyndham because it was perceived as a “prestigious suburb”.
“A lot of purchasers look at Point Cook because it’s a few kilometres closer to the CBD than Werribee or Wyndham Vale,” Ms Chick said. “You pay so much more for a similar distance out in the eastern suburbs.”
Ms Chick said buyers were interested in Werribee because they believed they were getting more value for their money than in other Wyndham suburbs, such as Hoppers Crossing.
Overall, Ms Chick said Wyndham’s real estate market was strong, with houses sold in seven to 21 days if reasonably priced.
She said the municipality was attractive to buyers because it had a lot to offer.
In Hoppers Crossing, the median house price dropped by about one per cent, from $342,000 to $339,000, while Truganina fell two per cent from about $366,000 to $359,000.
Wyndham Vale’s media price remained stable at $330,000.
Tarneit recorded a two per cent increase to $408,000 and Williams Landing went up four per cent from $495,000 to $515,000.
Real Estate Institute of Victoria chief executive Enzo Raimondo said that growth areas, such as Wyndham, remained popular with buyers throughout the quarter.
“Buyers priced out of higher-priced suburbs look for more affordable options further out but with infrastructure such as schools and shopping,” he said.
