Suburb Profile Report for Derrimut VIC (3030)

Derrimut House: Median price $645,000, Annual capital growth 7.36%, Number of sales 77, Weekly median advertised rent $400

Derrimut Unit: Median price $457,500, Annual capital growth N/A, Number of sales 10, Weekly median advertised rent $390

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

At number 1299th in the list of Australian suburbs ordered by increase in median house value over the last year, Derrimut, 3030 is in the top 40% with a property value increase of 7.50% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Derrimut comes in at number 130th in VIC.

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.39% offered to property buyers. Sellers in Derrimut itself are offering an average vendor discount of -5.47% to real estate investors.

Often selling an investment property can take time, and in Derrimut the average time real estate has been on the market is 30.34 days.

Derrimut is 289th on a list of best yielding suburbs for rents in VIC with a 3.22% return

Renters in Suburb are facing rents around $20280 per annum or $390 every week.

Information supplied by:


August 2018

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A large suburb less than 20km from the Melbourne CBD, Derrimut enjoys strong growth at an average annual rate of 7.5%Full summary

Interest is strong for houses

Postcode: 3030

Median house price: $640,000

Three-year growth: 48.0%

Rental yield: 3.3%

A large suburb less than 20km from the Melbourne CBD, Derrimut enjoys strong growth at an average annual rate of 7.5%.

House prices increased by 18.5% in the year to May 2018, continuing a trend that has been observed since 2013. Demand remains very high for this suburb, as shown by how quickly houses sell – they spend an average of just 24 days on the market. Moreover, vendors are able to sell at an average discount of only 3%.

Competition is also hot among tenants, with the average vacancy rate dropping from 1% to 0.6% in the last 12 months.

Neighbouring suburb Deer Park is home to a railway station along the Melton greater-metropolitan line, as well as several bus lines. Derrimut residents also have access to several primary schools and to the junior campus of the Victoria University Secondary College.

Close
Metrics i HOUSE UNIT
$645,000 $457,500
-1.30% N/A
7.50% N/A
7.36% N/A
$400 $390
77 10
3.22% 4.43%
30.34 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 5991
Median household income ($/weekly) 1741
Median age of persons 29
Median housing loan repayment ($/monthly) 2123
Average household size 3.3
  • Census Count Percent(%)
    0-4 years 801 13.4
    5-14 years 851 14.2
    25-34 years 1654 27.6
    35-44 years 1073 17.9
    45-54 years 507 8.5
    Others 1105 18.4
    Age Group
    Census Count Percent(%)
    Registered Married 2230 55.0
    Not Married 1366 33.7
    Defacto Relationship 458 11.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2788 49.5
    Indonesia 263 4.7
    Philippines 513 9.1
    Viet Nam 483 8.6
    Other 607 10.8
    Others 975 17.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 705 12.9
    Christianity 3256 59.7
    Hinduism 279 5.1
    Islam 338 6.2
    No Religion 794 14.6
    Others 78 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 159 10.1
    $1,250-$1,499 161 10.2
    $1,500-$1,999 288 18.3
    $2,000-$2,499 304 19.3
    $2,500-$2,999 156 9.9
    Others 509 32.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2147 52.7
    Not in the labour force 923 22.7
    Employed, worked part-time 603 14.8
    Employed, away from work 207 5.1
    Unemployed, looking for work 191 4.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 562 19.0
    Technicians & trades workers 409 13.8
    Clerical & administrative workers 509 17.2
    Machinery operators & drivers 358 12.1
    Labourers 320 10.8
    Others 799 27.0
    Occupation
    Census Count Percent(%)
    Pre-school 182 12.6
    Infants/Primary 531 36.7
    Secondary 329 22.7
    Technical or Further Educational Institution 120 8.3
    University or other Tertiary Institutions 225 15.5
    Others 60 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5669 99.7
    Semi-detached, row or terrace house, townhouse 11 0.2
    Flat, unit or apartment 8 0.1
    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 1226 72.3
    Rented 351 20.7
    Fully owned 115 6.8
    Other tenure type 3 0.2
    Tenure Type
Census 2011, ABS
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