Investment property in Diggers Rest has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 26.00%
Comparing Diggers Rest,3427 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Diggers Rest 3427 should be seeing an average reduction in asking price of around -6.67% . This means that Diggers Rest is holding prices well when compared to other suburbs in VIC.
On average over the past year, suburb has had 3.83 sales per month, which equates to 46 per year.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 3.74%, without taking into account capital value appreciation, which has been averaging out at 9.36%.
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.Full summary
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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.Close