At number 409th in the list of Australian suburbs ordered by increase in median house value over the last year, Deer Park, 3023 is in the top 10% with a property value increase of 21.40% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Deer Park,3023 has racked up an average of 21.40% over the period. This ranks it number 797th in the whole country for real estate investors looking at median house price increases.
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 -6.41% is being offered, which puts this VIC suburb at 229th 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 15.88 days.
Situated 18.18km from the CBD, Deer Park is one of Brimbank localities in the postcode 3023.
Over the last year, property investments in Deer Park, 3023 have given investors a capital gain of 21.21%. This compares very favourably with the 6.72% for VIC as a whole.
Deer Park,3023 has offered an average of 21.21% return per annum in house price rises to property investors over the last three years.
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%.