APD Research Memo
Werribee
Stable · Moderate confidence · Strong evidence · 30 August 2026
Conditions read as stable on building approvals at 34 against a 26 historical average; vacancy rate at 1.9% against a 1.5% historical average; rental growth at 5.5% against a 6.0% historical average; 12-month price growth at 4.0% against a 4.2% historical average.
APD View — Werribee
Werribee: conditions stable
Current data indicates conditions in Werribee are stable. 14 indicators across 5 analytical dimensions inform this reading, with 50% pointing the same way.
Direction
Stable
Confidence
Moderate
Evidence strength
Strong
Direction describes where underlying conditions are moving. It is not a rating, a recommendation or a signal to transact — a market can be improving while remaining expensive, low-yielding or supply-exposed.
Why this confidence — Based on 14 indicators, 60 months of history, 50% of indicators pointing the same way, latest data 29 days old.
Evidence basis — Based on 14 indicators, 1 independent source, 60 months of history. Latest data 29 days old.
What changed
| Indicator | Now | 1 month | 1 quarter |
|---|---|---|---|
| 12-month price growth | 4.0% | 3.6% | 4.4% |
| Rental growth | 5.5% | 5.8% | 5.9% |
| Days on market | 38 days | 39 days | 40 days |
| Advertised listings | 136.4 | 136.51 | 143.44 |
| Gross yield | 4.6% | 4.7% | 4.8% |
| Building approvals | 34.1 | 34.44 | 32.66 |
| Vendor discounting | -2.8% | -2.8% | -2.9% |
| Sales volume | 62 | 62.09 | 59.98 |
What supports this view
- Building approvals — 34.1 against a historical average of 26.24. Dwelling approvals are running above the historical average, pointing to more future supply. Historical percentile: 97.
- Vacancy rate — 1.9% against a historical average of 1.5%. Rental availability is looser than the historical norm. Historical percentile: 88.
- Rental growth — 5.5% against a historical average of 6.0%. Rental growth is running below its historical average. Historical percentile: 8.
- 12-month price growth — 4.0% against a historical average of 4.2%. Annual price growth is running below its historical average. Historical percentile: 21.
- Advertised listings — 136.4 against a historical average of 119.15. Advertised stock is above the historical average. Historical percentile: 68.
- Population growth — 1.2% against a historical average of 1.2%. Population growth is running below the longer-run average. Historical percentile: 32.
What works against it
- Median rent argues the other way — Median rent reads $567 against a $494 historical average (98th percentile), which works against the current reading.
- Median house value argues the other way — Median house value reads $641,019 against a $581,296 historical average (98th percentile), which works against the current reading.
- Sales volume argues the other way — Sales volume reads 62 against a 50 historical average (92th percentile), which works against the current reading.
- Price-to-rent multiple argues the other way — Price-to-rent multiple reads 22 against a 23 historical average (0th percentile), which works against the current reading.
- Median rent — $567. Advertised rents sit above the historical average for this market. Historical percentile: 98.
- Median house value — $641,019. House values sit above the historical average for this market. Historical percentile: 98.
- Sales volume — 62. Transaction volumes are running above the historical average. Historical percentile: 92.
- Price-to-rent multiple — 21.74. Prices are low relative to rents compared with the historical average. Historical percentile: 0.
This memo is research, not personal advice, and does not take your circumstances into account. It describes the direction of underlying conditions on the evidence available and states what would change that conclusion. Methodology · Markets we're watching