Derrimut has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 7.68% to date .
Over the longer term, Derrimut has seen property prices show investors a 46.59% return over the last 3 years. This is worse than over the last 12 months
At number 573th of VIC’s most discounted properties, Derrimut is in the TOP 20% of the state/territory when listing in order of most discounted to least.
In the last year 70 properties changed hands in Derrimut, which puts it as the 333th most active market in VIC when comparing the number of sales per suburb.
Derrimut is 289th on a list of best yielding suburbs for rents in VIC with a 3.22% return
Information supplied by:
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.