Suburb Profile Report for Diggers Rest VIC (3427)

Diggers Rest House: Median price $506,500, Annual capital growth 8.15%, Number of sales 57, Weekly median advertised rent $410

  • 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.

  • Expert Report
  • House Report

Over the last year, property investments in Diggers Rest, 3427 have given investors a capital gain of 1.30%. This compares averagely with the 2.87% for VIC as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Diggers Rest has increased when compared to the 5 year average annual rate.

At number 266th of VIC’s most discounted properties, Diggers Rest is in the middle of the state/territory when listing in order of most discounted to least.

Often selling an investment property can take time, and in Diggers Rest the average time real estate has been on the market is 52.3333 days.

Situated 30.81km from the CBD, Diggers Rest is one of Melton (C) localities in the postcode 3427.

Information supplied by:


June 2017

M
O

W
E

Sunbury neighbour a bargain for house hunters

Median house price: $350,250

Three-year growth: 23.98%

Rental yield: 4.90%

Roughly a 30-minute drive northwest of Melbourne lies the suburb of Diggers Rest. Once known for being a stop on the way to the Sunbury Pop Festival in the 1970s, it is now a consistently growing area with room for both work and play.

The suburb is home to amenities like a primary school and several huge recreation reserves. It is also highly accessible, being near the Calder Freeway and housing a railway station.

Diggers Rest has exhibited a significant price boost of over 23% for houses over the past 12 months, with the recent March 2017 quarter logging nearly 11% growth. Despite this hike, houses are still affordable at just over $350,000 – a bargain especially considering its relative proximity to the CBD. Investors also enjoy high yields of 4.9%, while vendors see properties on the market snapped up very quickly. Thus, buyers should move fast to get a foothold here.

Metrics i HOUSE UNIT
$506,500 N/A
2.32% N/A
1.30% N/A
8.15% N/A
$410 N/A
57 N/A
4.21% N/A
52.3333333333333 N/A

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), Above average (U)
Find a mortgage broker in Diggers Rest VIC
Demographics
Total population 2275
Median household income ($/weekly) 1169
Median age of persons 39
Median housing loan repayment ($/monthly) 1300
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 267 11.7
    25-34 years 301 13.2
    35-44 years 290 12.7
    45-54 years 386 17.0
    55-64 years 341 15.0
    Others 691 30.4
    Age Group
    Census Count Percent(%)
    Not Married 830 46.9
    Registered Married 762 43.0
    Defacto Relationship 179 10.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 1775 81.9
    Japan 68 3.1
    Papua New Guinea 25 1.2
    United Kingdom 80 3.7
    Other 44 2.0
    Others 176 8.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 20 1.0
    Christianity 1519 73.0
    Hinduism 22 1.1
    Islam 23 1.1
    No Religion 493 23.7
    Others 4 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 90 11.8
    $800-$999 74 9.7
    $1,000-$1,249 89 11.7
    $1,250-$1,499 85 11.2
    $1,500-$1,999 99 13.0
    Others 325 42.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 752 41.7
    Not in the labour force 556 30.8
    Employed, worked part-time 363 20.1
    Employed, away from work 75 4.2
    Unemployed, looking for work 59 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 117 9.8
    Technicians & trades workers 228 19.2
    Clerical & administrative workers 209 17.6
    Machinery operators & drivers 146 12.3
    Labourers 124 10.4
    Others 364 30.6
    Occupation
    Census Count Percent(%)
    Pre-school 33 7.1
    Infants/Primary 154 33.0
    Secondary 148 31.7
    Technical or Further Educational Institution 53 11.3
    University or other Tertiary Institutions 63 13.5
    Others 16 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2146 98.0
    Semi-detached, row or terrace house, townhouse 19 0.9
    Flat, unit or apartment 15 0.7
    House or flat attached to a shop, office 7 0.3
    Caravan, cabin, houseboat 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 410 49.9
    Fully owned 264 32.2
    Rented 147 17.9
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
Chart Table