Property value increases in Diamond Creek have tracked close to the VIC average of 8.23% over the last 12 months.
Diamond Creek,3089 has offered an average of 10.91% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -7.14% to buyers in Diamond Creek at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 14.50 sales per month, which equates to 174 per year.
A $427.5 per week rent on the median house gives suburb investors a gross yield of circa 3.64%, without taking into account capital value appreciation, which has been averaging out at 6.22%.
Diamond Creek is in the bottom 40% in VIC when comparing median price capital growth over the last year. Diamond Creek gave property investors a disappointing capital gain figure when compared to the rest of the state, with 1.62%.
While Diamond Creek,3089 ranked number 237th in VIC for increase in median house value (annualised) increase, it is ranked 24th over the last 5 years.
Property investors looking for a bargain in Diamond Creek should be aiming for at least -2.86% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Diamond Creek being $506550 and the advertised rent reaching $355 the gross rental yield for property investors calculates out to be 3.64%