If you’re looking for a property investment hotspot, Wyndham Vale, Victoria is worth considering. Located approximately 25kms from Melbourne’s CBD, this suburb is experiencing strong population and economic growth, making it an attractive place to invest in property.
Here are four reasons why you should consider investing in Wyndham Vale, Victoria.
1. The population of Wyndham Vale is growing rapidly
Wyndham Vale is located in one of Victoria’s most rapidly-growing regions – the South West Growth Corridor. Between 2016 and 2036, the population of Wyndham Vale is forecast to increase by 188.6%, with the greatest period of growth forecast across the next 4 years when the population is expected to increase by 37.4%. This makes Wyndham Vale one of the fastest-growing suburbs in Victoria, showing huge potential for capital growth in the future as demand for property in the area increases.
2. Economic growth
The South West Growth Corridor is also one of the state’s key economic regions, with Wyndham Vale playing a significant role in this. In June 2022, Wyndham City announced the region’s latest Annual Plan and Budget, aimed at improving City pride, building and enhancing Parks and Open Spaces, Protecting the Local Environment and keeping Wyndham Active.
As a part of ongoing infrastructure commitments, the council outlined the following capital works plans:
- $32.3M to build, upgrade and maintain road networks
- $65.6M for recreational, leisure and community facilities
- $19.8M for parks, open spaces and streetscapes
- $10M for the RDF Waste Processing and Baling Facility
- $14.72 million for maternal & child health and immunisations services
- $10.3 million to operate local libraries
- $18.7 million to run Kindergarten and Child Centre services
Alongside planned infrastructure updates, the suburb is also home to a number of large businesses and employers, creating great employment opportunities for renters and property investors alike. As the economy continues to strengthen, more businesses will move into the area, providing even more job prospects for locals.
3. Significant growth and affordable property
While property prices in Melbourne’s CBD are out of reach for many investors, Wyndham Vale offers more affordable property options. Currently, the suburb’s median house price is sitting at around $567,000, making it significantly cheaper than neighbouring suburbs like Werribee ($611,000) and Point Cook ($750,000).
This median house price has experienced an 11.7% growth over the last 12 months and maintains an annual rental yield of 3.5%. This makes it a great option for those looking to get into the property market or grow their investment portfolio.
Wyndham Vale’s location is another key selling point. Several major roads service Wyndham Vale, with Melbourne’s CBD just 25 minutes away by car. The suburb also has excellent transport links – both road, rail and bus infrastructure are well-developed, making it easy to get around. There are also plenty of schools, shopping centres and other amenities nearby, making it a great place for young families.
With a strong population, excellent transport links, affordable housing and economic growth providing good prospects for capital growth, Wyndham Vale is set to be an investment hot spot. Watch this space for upcoming availability in Wyndham Vale with ALC.
Disclaimer: This article contains general information only. It does not take into account your personal objectives, financial situation or needs. Before making any decisions, consider your personal circumstances and seek professional advice.
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