If you compare the increase in value of investment property in Derrimut, 3030 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.52%.
Comparing Derrimut,3030 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Derrimut 3030 should be seeing an average reduction in asking price of around -6.06% . This means that Derrimut is holding prices well when compared to other suburbs in VIC.
At number 194 in a list of fastest selling suburbs, Derrimut is in the TOP 10% of suburbs in Australia with an average of days on market 37.59 for properties listed there.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 7.48%, investors should hope to achieve an overall return of 3.22%
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