Suburb Profile Report for Deer Park VIC (3023)

Deer Park House: Median price $553,500, Annual capital growth 6.15%, Number of sales 208, Weekly median advertised rent $380

Deer Park Unit: Median price $477,500, Annual capital growth 5.53%, Number of sales 36, Weekly median advertised rent $360

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Investment property in Deer Park has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -2.04%

Across a shorter period, Deer Park, 3023 has seen a median price increase of 1.56% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that Deer Park is offering property investors an average of -6.51. This rate of discount on properties puts Suburb at number 422th in terms of most discounted suburbs in VIC

With the median price for a house in Deer Park being $553500 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 3.57%

Property investors who have had real estate in Deer Park, 3023 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.06%

Taking the average capital gain, or increase in median house value, Deer Park,3023 has racked up an average of 7.06% over the period. This ranks it number 64th in the whole country for real estate investors looking at median house price increases.

With the median price for a house in Deer Park being $477500 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 3.92%

Information supplied by:


May 2017

M
O

W
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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%.


 
Metrics i HOUSE UNIT
$553,500 $477,500
1.56% 1.60%
-2.04% 7.06%
6.15% 5.53%
$380 $360
208 36
3.57% 3.92%
59.8930817610063 45.2258064516129

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 16204
Median household income ($/weekly) 1096
Median age of persons 33
Median housing loan repayment ($/monthly) 1670
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 1939 12.0
    25-34 years 3106 19.2
    35-44 years 2336 14.4
    45-54 years 1854 11.4
    55-64 years 1859 11.5
    Others 5110 31.5
    Age Group
    Census Count Percent(%)
    Registered Married 5660 47.4
    Not Married 5425 45.4
    Defacto Relationship 865 7.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 7411 50.2
    Indonesia 563 3.8
    Philippines 739 5.0
    Viet Nam 1089 7.4
    Other 1600 10.8
    Others 3363 22.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 1478 10.2
    Christianity 9215 63.6
    Hinduism 317 2.2
    Islam 1055 7.3
    No Religion 2137 14.7
    Others 296 2.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 518 11.0
    $600-$799 500 10.6
    $800-$999 500 10.6
    $1,000-$1,249 509 10.8
    $1,500-$1,999 625 13.2
    Others 2071 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 4581 38.5
    Employed, worked full-time 4367 36.7
    Employed, worked part-time 1807 15.2
    Unemployed, looking for work 668 5.6
    Employed, away from work 467 3.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 837 12.6
    Technicians & trades workers 967 14.6
    Clerical & administrative workers 962 14.5
    Machinery operators & drivers 966 14.5
    Labourers 919 13.8
    Others 1991 30.0
    Occupation
    Census Count Percent(%)
    Pre-school 219 6.7
    Infants/Primary 1089 33.1
    Secondary 892 27.1
    Technical or Further Educational Institution 328 10.0
    University or other Tertiary Institutions 546 16.6
    Others 217 6.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 13966 91.7
    Flat, unit or apartment 746 4.9
    Semi-detached, row or terrace house, townhouse 512 3.4
    Caravan, cabin, houseboat 3 0.0
    House or flat attached to a shop, office 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1936 37.6
    Fully owned 1659 32.2
    Rented 1535 29.8
    Other tenure type 20 0.4
    Tenure Type
Census 2011, ABS
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