Suburb Profile Report for Diamond Creek VIC (3089)

Diamond Creek House: Median price $739,000, Annual capital growth 5.49%, Number of sales 144, Weekly median advertised rent $490

Diamond Creek Unit: Median price $602,250, Annual capital growth 5.45%, Number of sales 28, Weekly median advertised rent $440

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Diamond Creek, 3089 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -8.27%.

When looking at the potential capital gains offered to property investors over the last 3 years, Diamond Creek comes in at number 317th in VIC.

Our latest figures would indicate that property sellers in Diamond Creek are currently offering property investors an average price cut of -6.69% below the asking price at the moment.

At number 346 in a list of fastest selling suburbs, Diamond Creek is in the TOP 10% of suburbs in Australia with an average of days on market 50.6944 for properties listed there.

With the median price for a house in Diamond Creek being $739000 and the advertised rent reaching $490 the gross rental yield for property investors calculates out to be 3.45%

Investment property in Diamond Creek has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.29%

Diamond Creek,3089 has offered an average of 0.29% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Diamond Creek 3089 should be seeing an average reduction in asking price of around -5.42% . This means that Diamond Creek is holding prices well when compared to other suburbs in VIC.

In the last year 28 properties changed hands in Diamond Creek, which puts it as the 203th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $440 and the average annual increase in value of a median property of 5.45%, investors should hope to achieve an overall return of 3.80%

Metrics i HOUSE UNIT
$739,000 $602,250
0.68% 2.08%
-8.27% 0.29%
5.49% 5.45%
$490 $440
144 28
3.45% 3.80%
50.6944444444445 53.421052631579

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Above average (U)
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Demographics
Total population 11504
Median household income ($/weekly) 1861
Median age of persons 36
Median housing loan repayment ($/monthly) 1950
Average household size 3.1
  • Census Count Percent(%)
    5-14 years 1762 15.3
    25-34 years 1191 10.4
    35-44 years 1788 15.5
    45-54 years 1985 17.3
    55-64 years 1292 11.2
    Others 3485 30.3
    Age Group
    Census Count Percent(%)
    Registered Married 4691 55.1
    Not Married 3193 37.5
    Defacto Relationship 624 7.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 9661 86.4
    Japan 120 1.1
    Papua New Guinea 104 0.9
    United Kingdom 578 5.2
    Other 196 1.8
    Others 527 4.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 81 0.8
    Christianity 7307 68.5
    Islam 55 0.5
    Other Religious Groups 32 0.3
    No Religion 3183 29.8
    Others 16 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 246 7.6
    $1,500-$1,999 500 15.5
    $2,000-$2,499 471 14.6
    $2,500-$2,999 416 12.9
    $3,000-$3,499 281 8.7
    Others 1304 40.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3937 44.7
    Employed, worked part-time 2170 24.6
    Not in the labour force 2146 24.4
    Employed, away from work 323 3.7
    Unemployed, looking for work 229 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 866 13.5
    Professionals 1297 20.2
    Technicians & trades workers 1075 16.7
    Community & personal service workers 699 10.9
    Clerical & administrative workers 1086 16.9
    Others 1409 21.9
    Occupation
    Census Count Percent(%)
    Pre-school 239 7.2
    Infants/Primary 1132 34.3
    Secondary 1059 32.0
    Technical or Further Educational Institution 275 8.3
    University or other Tertiary Institutions 500 15.1
    Others 100 3.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 10650 96.6
    Semi-detached, row or terrace house, townhouse 200 1.8
    Flat, unit or apartment 180 1.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2029 56.8
    Fully owned 1164 32.6
    Rented 363 10.2
    Other tenure type 18 0.5
    Tenure Type
Census 2011, ABS
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