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.
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%.