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