Suburb Profile Report for Deer Park VIC (3023)

Deer Park House: Median price $480,000, Annual capital growth 7.98%, Number of sales 261, Weekly median advertised rent $340

Deer Park Unit: Median price $370,000, Annual capital growth 6.42%, Number of sales 59, Weekly median advertised rent $320

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Deer Park has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 15.66%

The five-year average increase in median property values for Deer Park,3023 has given property investors a potential capital gain of 37.14% across each of those five years.

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 -3.58% is being offered, which puts this VIC suburb at 3300th most discounted overall in Australia.

Often selling an investment property can take time, and in Deer Park the average time real estate has been on the market is 37.35 days.

Renters in Suburb are facing rents around $4080 per annum or $340 every week.

If you compare the increase in value of investment property in Deer Park, 3023 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 12.12%.

Over the longer term, Deer Park has seen property prices show investors a 23.33% return over the last 3 years. This is worse than over the last 12 months

At number 311th of VIC’s most discounted properties, Deer Park is in the TOP 10% of the state/territory when listing in order of most discounted to least.

In the last year 59 properties changed hands in Deer Park, which puts it as the 157th most active market in VIC when comparing the number of sales per suburb.

The VIC suburb of Deer Park, 3023 is in the Brimbank local government area.

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
$480,000 $370,000
4.98% 4.23%
15.66% 12.12%
7.98% 6.42%
$340 $320
261 59
3.68% 4.50%
37.35 79.78

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (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
Chart Table
Recent sales & rentals