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.
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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.