Suburb Profile Report for Deer Park VIC (3023)

Deer Park House: Median price $505,000, Annual capital growth 7.98%, Number of sales 252, Weekly median advertised rent $340

Deer Park Unit: Median price $381,500, Annual capital growth 6.54%, Number of sales 50, Weekly median advertised rent $330

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

With a capital gain of 20.24% for the last 12 months, Deer Park, 3023 has performed for property investments than its average annual 7.98% property growth over the last 5 years.

Over the longer term, Deer Park has seen property prices show investors a 38.36% return over the last 3 years. This is worse than over the last 12 months

Property investors looking for a bargain in Deer Park should be aiming for at least -4.20% off the asking price, which is the average vendor discount being achieved at the moment.

Property investors should expect to get $340 weekly from the median priced house in this suburb.

Property investors who have had real estate in Deer Park, 3023 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 15.61%

If we look at median property appreciation over just the last three months, Deer Park has given property investors a paper return of 5.97%. This puts Suburb as 53 on a list of fastest fasting appreciating suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Deer Park is offering property investors an average of -4.68. This rate of discount on properties puts Suburb at number 297th in terms of most discounted suburbs in VIC

Renters in Suburb are facing rents around $3960 per annum or $330 every week.

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
$505,000 $381,500
5.21% 5.97%
20.24% 15.61%
7.98% 6.54%
$340 $330
252 50
3.50% 4.50%
36.98 64.03

Source: CoreLogic

DSR Score for property investment : Very good (H), Very 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
Chart Table
Recent sales & rentals