Property value increases in Diggers Rest have tracked just higher than the VIC average of 7.88% over the last 12 months.
Diggers Rest,3427 was ranked 595 in Australia by increase in median property value over the quarter.
At number 84th of VIC’s most discounted properties, Diggers Rest is in the bottom 20% of the state/territory when listing in order of most discounted to least.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 3.73%, without taking into account capital value appreciation, which has been averaging out at 9.21%.
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