Suburb Profile Report for Diamond Creek VIC (3089)

Diamond Creek House: Median price $670,000, Annual capital growth 6.86%, Number of sales 174, Weekly median advertised rent $428

Diamond Creek Unit: Median price $515,000, Annual capital growth 7.40%, Number of sales 15, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

Diamond Creek is in the TOP 30% in VIC when comparing median price capital growth over the last year. Diamond Creek gave property investors a good capital gain figure when compared to the rest of the state, with 14.43%.

Taking the average capital gain, or increase in median house value, Diamond Creek,3089 has racked up an average of 14.43% over the period. This ranks it number 1319th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Diamond Creek are currently offering property investors an average price cut of -4.09% below the asking price at the moment.

Residents and property investors in Diamond Creek have been waiting around 39.37 days to sell a property.

A $427.5 per week rent on the median house gives suburb investors a gross yield of circa 3.32%, without taking into account capital value appreciation, which has been averaging out at 6.86%.

If you compare the increase in value of investment property in Diamond Creek, 3089 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 3.01%.

Over the longer term, Diamond Creek has seen property prices show investors a 12.57% return over the last 3 years. This is worse than over the last 12 months

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 Diamond Creek, 3089. Typically our figures indicate that -0.71% is being offered, which puts this VIC suburb at 1484th most discounted overall in Australia.

At number 93 in a list of fastest selling suburbs, Diamond Creek is in the TOP 10% of suburbs in Australia with an average of days on market 38.58 for properties listed there.

Metrics i HOUSE UNIT
$670,000 $515,000
6.10% 1.78%
14.43% 3.01%
6.86% 7.40%
$428 $360
174 15
3.32% 3.63%
39.37 38.58

Source: CoreLogic

DSR Score for property investment : Very good (H), Very good (U)
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Demographics
Total population 11504
Median household income ($/weekly) 1861
Median age of persons 36
Median housing loan repayment ($/monthly) 1950
Average household size 3.1
  • Census Count Percent(%)
    5-14 years 1762 15.3
    25-34 years 1191 10.4
    35-44 years 1788 15.5
    45-54 years 1985 17.3
    55-64 years 1292 11.2
    Others 3485 30.3
    Age Group
    Census Count Percent(%)
    Registered Married 4691 55.1
    Not Married 3193 37.5
    Defacto Relationship 624 7.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 9661 86.4
    Japan 120 1.1
    Papua New Guinea 104 0.9
    United Kingdom 578 5.2
    Other 196 1.8
    Others 527 4.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 81 0.8
    Christianity 7307 68.5
    Islam 55 0.5
    Other Religious Groups 32 0.3
    No Religion 3183 29.8
    Others 16 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 246 7.6
    $1,500-$1,999 500 15.5
    $2,000-$2,499 471 14.6
    $2,500-$2,999 416 12.9
    $3,000-$3,499 281 8.7
    Others 1304 40.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3937 44.7
    Employed, worked part-time 2170 24.6
    Not in the labour force 2146 24.4
    Employed, away from work 323 3.7
    Unemployed, looking for work 229 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 866 13.5
    Professionals 1297 20.2
    Technicians & trades workers 1075 16.7
    Community & personal service workers 699 10.9
    Clerical & administrative workers 1086 16.9
    Others 1409 21.9
    Occupation
    Census Count Percent(%)
    Pre-school 239 7.2
    Infants/Primary 1132 34.3
    Secondary 1059 32.0
    Technical or Further Educational Institution 275 8.3
    University or other Tertiary Institutions 500 15.1
    Others 100 3.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 10650 96.6
    Semi-detached, row or terrace house, townhouse 200 1.8
    Flat, unit or apartment 180 1.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2029 56.8
    Fully owned 1164 32.6
    Rented 363 10.2
    Other tenure type 18 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals