Suburb Profile Report for Diggers Rest VIC (3427)

Diggers Rest House: Median price $497,500, Annual capital growth 8.01%, Number of sales 43, Weekly median advertised rent $400

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

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

  • Expert Report
  • House Report

Investment property in Diggers Rest 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 5.85%

Over the longer term, Diggers Rest has seen property prices show investors a 53.67% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Diggers Rest is giving property investors an average Vendor Discount of around -7.93%. This puts suburb at number 144th in VIC when ranking the most discounted suburbs.

With the median price for a house in Diggers Rest being $497500 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 4.18%

Information supplied by:


June 2017

M
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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.

Metrics i HOUSE UNIT
$497,500 N/A
1.32% N/A
5.85% N/A
8.01% N/A
$400 N/A
43 N/A
4.18% N/A
50.8 N/A

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

DSR Score for property investment : Balanced (H), Balanced (U)
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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
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