Deer Park

POSTAL CODE: VIC, 3023
HOUSE
UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 8.95% capital gain.

It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $694,000

The augmented property values in the suburb are trailing above the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $500.

Home owners selling their properties and realtors in DEER PARK usually have to wait an average of 38.4 days days before their assets are lifted off the market.

The VIC suburb ranks 240th on the list of best yielding suburbs for rental properties in VIC, posting a 3.75% return.

It also places places 181st in Australia based on median property value growth during the quarter.

Surburb overview

Deer Park, located approximately 17 kilometres west of Melbourne's Central Business District (CBD), is a suburb within the City of Brimbank local government area.  As of the 2021 census, it has a population of 18,145 residents.

Established in the 1870s, Deer Park was initially named Kororoit Creek after the creek running through the suburb. It was renamed after the Melbourne Hunt Club, which used the area to house its stock of game deer. The original Hunt Club building still stands on Ballarat Road and now serves as a community centre.

The suburb's diverse demographic includes young professionals, families, and retirees. Most of the population comprises couples with children, reflecting a family-friendly environment.

Deer Park is well-serviced by public transportation, offering residents convenient access to various parts of Melbourne. The Deer Park railway station on the Serviceton line provides train services to the CBD and surrounding areas. Additionally, several bus routes operate through the suburb, enhancing connectivity.

The suburb offers a range of amenities, including educational institutions, healthcare facilities, and shopping centres. The Brimbank Central Shopping Centre is the primary retail hub, featuring various shops, restaurants, and entertainment options.  The presence of parks and recreational facilities enhances the quality of life for residents, offering spaces for leisure and community activities. 

Deer Park boasts several parks and green spaces, providing residents with opportunities for outdoor activities. The picturesque Kororoit Creek runs through the suburb, offering scenic walking and cycling paths.  Additionally, the suburb's proximity to the Deer Park Sports Oval offers facilities for various sports, catering to active individuals seeking to maintain a healthy lifestyle. 

Deer Park's blend of urban convenience and community-oriented living makes it a desirable location for diverse residents. 

You’re out of free articles for this month
Loading form...