Williamstown is a picturesque coastal suburb located approximately 9 kilometers southwest of Melbourne's central business district (CBD). Situated on a peninsula surrounded by Port Phillip Bay, Williamstown offers stunning waterfront views and a rich maritime history.
Throughout its history, Williamstown has been an important port and shipbuilding center. Established in the 19th century, the suburb played a significant role in Victoria's early colonial development, serving as a key hub for trade and commerce. An interesting fact about Williamstown is that it was the first port in Victoria to be declared a customs area in 1853.
In recent decades, Williamstown has undergone significant gentrification and urban renewal, attracting families, professionals, and retirees to its charming streets and historic architecture. While it may not be considered an "old money" suburb, its growth in house prices over the past decades reflects its increasing desirability as a residential location.
Lifestyle
Williamstown boasts numerous reserves, parks, and green spaces, providing residents with ample opportunities for outdoor recreation and leisure activities. Popular spots include Williamstown Beach, Jawbone Marine Sanctuary, and Commonwealth Reserve, which offer swimming, fishing, picnicking, and walking trails.
Residents of Williamstown enjoy a relaxed coastal lifestyle, with many engaging in activities such as walking, running, cycling, and sailing along the waterfront. The suburb's vibrant café culture is also popular, with residents frequenting local eateries for brunch, coffee, and casual dining.
Throughout the year, Williamstown hosts various events and festivals, including the Williamstown Festival, Seaside Street Food Festival, and the Williamstown Farmers Market. Pets are popular in the suburb, with many residents taking advantage of pet-friendly parks and walking trails to exercise and socialize their furry companions.
School Zones
Williamstown is home to several public primary schools, including Williamstown Primary School and Williamstown North Primary School. Nearby Catholic primary schools include St. Mary's Primary School in Newport.
For secondary education, students may attend Williamstown High School or nearby schools such as Bayside Secondary College and Alamanda College. Exclusive independent private schools favored by wealthy families include The Scots School and Westbourne Grammar School.
The closest school for students with special needs is Newport Lakes Primary School, providing specialized education and support services for students with disabilities.
Demographics
According to ABS census data, the median weekly household income in Williamstown has shown steady growth from 2006 to 2021 rising from $1,329 to $2,411, reflecting the suburb's increasing prosperity. The percentage of families in the suburb is relatively high, with a diverse mix of professionals, families, and retirees.
Major demographic groups in Williamstown include individuals of Anglo-Celtic descent, as well as a growing population of multicultural backgrounds.
The suburb's average income compares favorably to the Australian average, indicating a relatively affluent demographic. While the suburb's wealth may be increasing significantly over time, it remains an attractive option for families and professionals seeking a coastal lifestyle.
Employment
A significant percentage of Williamstown residents being 55% are employed in professional and managerial roles, reflecting the suburb's proximity to Melbourne's CBD and nearby employment hubs. Main employers in the area include healthcare facilities, educational institutions, and maritime industries.
The main industries of employment in Williamstown include healthcare and social assistance, education and training, and manufacturing. Many residents work in neighboring suburbs or commute to Melbourne's CBD for employment opportunities.
Emerging employment trends in Williamstown include the growth of hospitality and tourism sectors, driven by the suburb's coastal location and cultural attractions.
Transport
Williamstown benefits from convenient transport options, with main bus routes connecting the suburb to Melbourne's CBD and surrounding areas. The Williamstown railway station provides regular train services on the Williamstown line, offering quick and easy access to other parts of the city.
While there are no trams or ferries within Williamstown itself, residents can access nearby public transport hubs for further connectivity. Private transport is also popular, with many residents owning cars for commuting and leisure activities.
Shopping Centre's, Restaurants & Facilities
Williamstown has a high walk score, with various amenities within walking distance for residents. Local shopping precincts offer a mix of boutique shops, specialty stores, and essential services, while nearby malls like Highpoint Shopping Centre cater to broader shopping needs.
The suburb is home to numerous restaurants, cafes, and eateries, offering diverse culinary experiences from around the world. Popular dining spots include restaurants along Nelson Place and Ferguson Street, where residents can enjoy waterfront views and fresh seafood.
Local facilities in Williamstown include fitness centers, community centers, and recreational facilities, providing opportunities for sports, fitness, and social activities. Residents often engage in outdoor recreational activities such as cycling, jogging, and water sports, taking advantage of the suburb's coastal location and natural beauty.
Williamstown residents also enjoy access to various social clubs, sporting facilities, and swimming clubs, catering to diverse interests and hobbies. A unique feature of the suburb is its rich maritime heritage, with historical landmarks such as the Williamstown Maritime Museum and the HMAS Castlemaine offering residents access to Australia's naval history.
Popular churches and religious places in Williamstown include Holy Trinity Anglican Church, St. Mary's Catholic Church, and St. Andrew's Presbyterian Church, serving the spiritual needs of the local community.
Development
Dwellings in Williamstown comprise a mix of heritage homes, modern townhouses, and waterfront apartments, catering to different lifestyle preferences and housing needs. Common developments in the suburb include heritage renovations, waterfront developments, and infill housing projects.
While knock-down rebuilds, renovations, and redevelopments are relatively common in Williamstown, subdivision opportunities may be limited due to zoning restrictions and land availability. Developments have occurred in various parts of the suburb, with waterfront properties and central locations often attracting premium prices.
Capital Growth
The average capital growth for houses, townhouses, and units in Williamstown has shown substantial growth over the past decades, reflecting the suburb's desirable waterfront location and lifestyle appeal.
Houses have averaged 9.1% growth with better pockets of the suburb for houses are typically located near parks, schools, and amenities, offering lifestyle benefits and investment potential. These average around 12% growth.
Factors driving capital growth in Williamstown include its coastal location, historic charm, and ongoing urban renewal projects. The main buyers in the suburb are often families, professionals, and downsizers seeking quality housing options and long-term capital appreciation.
Cash Flow
The average cash flow for houses in Williamstown, as measured by yield, is competitive compared to neighboring suburbs, reflecting stable rental demand and property values at 2.7%. Townhouses and units also offer favorable yields closer to 4%, attracting investors seeking rental income and capital growth potential.
Over the past decades, cash flow from rental properties in Williamstown has shown steady growth, driven by increasing demand from tenants attracted to the suburb's coastal lifestyle and amenities.
Common tenants of leased properties include families, professionals, and retirees seeking quality housing options and lifestyle benefits.
Rental Demand
Average vacancy rates for houses in Williamstown have remained relatively low over the past 10 years averaging 1.5%, indicating strong rental demand and tenant retention. Similarly, vacancy rates for townhouses and units have also been stable, reflecting consistent demand from renters.
Since the COVID-19 pandemic, average vacancy rates in Williamstown have fluctuated down to 1%, with short-term impacts from travel restrictions and lockdown measures. However, rental demand remains robust, driven by the suburb's coastal lifestyle, proximity to Melbourne's CBD, and quality housing options.
Major driving forces behind rental demand in Williamstown include lifestyle factors, employment opportunities, and proximity to amenities such as schools, parks, and public transport. Rental stock levels have decreased due to ongoing demand from tenants and limited new construction, resulting in a competitive rental market and higher rental prices.
Why You Require a Buyers Agent in Williamstown
The competition for property in Williamstown is fierce, with high demand and limited stock driving up prices. Stock levels are constantly low due to the suburb's popularity among families, professionals, and investors, making it challenging for buyers to secure properties without professional assistance.
A buyer's agent can provide valuable expertise and guidance in navigating the competitive market, identifying suitable properties, and negotiating favorable terms. Additionally, they can offer insights into unique opportunities and hidden gems within the suburb, helping buyers make informed decisions and secure their dream property in Williamstown.
Having a buyers agent in your corner is crucial to your success in Williamstown. Having the knowledge, strategy, access and negotiation ability will ensure you save thousands on the way in and make potentially millions in the future.
Why not seek Professional Advice from one of our Buyers Agents
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