Deer Park is in the TOP 30% in VIC when comparing median price capital growth over the last year. Deer Park gave property investors a good capital gain figure when compared to the rest of the state, with 16.14%.
If we look at median property appreciation over just the last three months, Deer Park has given property investors a paper return of 5.56%. This puts Suburb as 144 on a list of fastest fasting appreciating suburbs in VIC
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Deer Park, 3023. Typically our figures indicate that -3.51% is being offered, which puts this VIC suburb at 3331th most discounted overall in Australia.
Advertised rents are around the $340 mark per week – giving a return of 3.72% based on the median price in Suburb
VIC has seen average median house prices change by 4.83% which means that Deer Park, 3023 has done well for property investors by showing a capital gain of 9.59% over the last year
Comparing Deer Park,3023 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Our latest figures would indicate that property sellers in Deer Park are currently offering property investors an average price cut of -2.88% below the asking price at the moment.
A $320 per week rent on the median house gives suburb investors a gross yield of circa 4.62%, without taking into account capital value appreciation, which has been averaging out at 6.39%.
The large suburb of Deer Park benefits from an excellent location just 17km west of the Melbourne CBD.Full summary
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Apartment value soars in commuter-friendly suburb
Median unit price: $345,000
Three-year growth: 15.00%
Rental yield: 4.67%
The large suburb of Deer Park benefits from an excellent location just 17km west of the Melbourne CBD. Specifically, the unit market has been seeing significant, steady growth over the past five years and shows no signs of slowing down.
The suburb got its name after the Melbourne Hunt Club once housed its game deer here. The Club’s home has since been converted into a community centre next to a sports oval. Several schools have also been established in the suburb, including primary schools and a secondary college. Travel is convenient via train and bus, and Ballarat Road passes through the suburb.
Large blocks of farm property on the fringes of Deer Park are also being developed for housing. Thus, now is a good time to enter the market while apartment prices are still reasonable and the average rental yield is strong at almost 5%.