Werribee is a major suburb in Victoria within the Wyndham local government area (postcode 3030). With a population of 50,027, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $86K per year, with an average household size of 2.7 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +3.7% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, technicians & trades, clerical & administrative. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Italian.
The median house price in Werribee is $587,000, having declined 3.9% over the past year. Units have a median price of $450,000 (+5% YoY). The current median weekly rent is $490. This gives a gross rental yield of approximately 4.3%. The median monthly mortgage repayment is $1,733.
Werribee is served by 19 schools, including 11 primary, 5 secondary, 1 combined, 2 special. The average ICSEA score is 1018, which is around the national average of 1,000. Public transport access includes 17 rail stations, 230 bus stops. Healthcare facilities include 2 public and 2 private hospitals. The crime rate in the Wyndham LGA is moderate at 7,001 incidents per 100,000 population.
From an investment perspective, Werribee offers a gross rental yield of 4.3%, rated as moderate yield. Property prices sit below the state median ($587K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 6.9x is considered moderate. House prices have moved -3.9% year-on-year. Population growth of +3.7% year-on-year indicates strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.
Sources: ABS Census 2021 · ABS dwelling prices · State Valuers General · ATO income · ACARA schools · AIHW hospitals · GTFS · state police