Suburb Profile Report for Deer Park VIC (3023)

Deer Park House: Median price $475,000, Annual capital growth 8.22%, Number of sales 250, Weekly median advertised rent $340

Deer Park Unit: Median price $360,000, Annual capital growth 6.39%, Number of sales 57, Weekly median advertised rent $320

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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%.

Information supplied by:


May 2017

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The large suburb of Deer Park benefits from an excellent location just 17km west of the Melbourne CBD.Full summary

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%.


 Close
Metrics i HOUSE UNIT
$475,000 $360,000
5.56% 3.60%
16.14% 9.59%
8.22% 6.39%
$340 $320
250 57
3.72% 4.62%
42.75 85.79

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Deer Park VIC
Demographics
Total population 16204
Median household income ($/weekly) 1096
Median age of persons 33
Median housing loan repayment ($/monthly) 1670
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 1939 12.0
    25-34 years 3106 19.2
    35-44 years 2336 14.4
    45-54 years 1854 11.4
    55-64 years 1859 11.5
    Others 5110 31.5
    Age Group
    Census Count Percent(%)
    Registered Married 5660 47.4
    Not Married 5425 45.4
    Defacto Relationship 865 7.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 7411 50.2
    Indonesia 563 3.8
    Philippines 739 5.0
    Viet Nam 1089 7.4
    Other 1600 10.8
    Others 3363 22.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 1478 10.2
    Christianity 9215 63.6
    Hinduism 317 2.2
    Islam 1055 7.3
    No Religion 2137 14.7
    Others 296 2.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 518 11.0
    $600-$799 500 10.6
    $800-$999 500 10.6
    $1,000-$1,249 509 10.8
    $1,500-$1,999 625 13.2
    Others 2071 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 4581 38.5
    Employed, worked full-time 4367 36.7
    Employed, worked part-time 1807 15.2
    Unemployed, looking for work 668 5.6
    Employed, away from work 467 3.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 837 12.6
    Technicians & trades workers 967 14.6
    Clerical & administrative workers 962 14.5
    Machinery operators & drivers 966 14.5
    Labourers 919 13.8
    Others 1991 30.0
    Occupation
    Census Count Percent(%)
    Pre-school 219 6.7
    Infants/Primary 1089 33.1
    Secondary 892 27.1
    Technical or Further Educational Institution 328 10.0
    University or other Tertiary Institutions 546 16.6
    Others 217 6.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 13966 91.7
    Flat, unit or apartment 746 4.9
    Semi-detached, row or terrace house, townhouse 512 3.4
    Caravan, cabin, houseboat 3 0.0
    House or flat attached to a shop, office 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1936 37.6
    Fully owned 1659 32.2
    Rented 1535 29.8
    Other tenure type 20 0.4
    Tenure Type
Census 2011, ABS
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