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Derrimut, VIC 3026

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If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Derrimut, VIC 3026 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

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Yield 

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Buy 

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Rent 

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Derrimut, VIC 3026”

  1. The total adult population (15 years or older) of Derrimut 3026 VIC is 6,217, with a median age of 32. Of those, 53.90% are married, 9.80% are divorced or separated, 34.31% are single and 2.04% are widowed.

    The average household size is 3.6 people per dwelling, and the median household monthly income is estimated to be $8,876. The median monthly mortgage repayment for households in this suburb is $1,976 which is 22.26% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Derrimut, postal code 3026, is located in the state of Victoria and is home to an estimated 3,558 households. As of Q3 in 2023, the typical price for houses in Derrimut 3026 stands at $765,606 with a median weekly rent of $420, generating an indicative yield of 2.85%. Although the yield is slightly below the 3% mark that property investors typically find attractive, other aspects of this market present favourable conditions.

    The socio-economic score of Derrimut is robust, with an IRSAD of 995 out of 1,217. This suggests a strong socio-economic status for the area, indicative of a population with good access to economic resources, potentially stable income levels, and professional occupations.

    The renter to owner ratio is 22%, which is well below the 30% threshold, making Derrimut a promising investment territory as it minimises the risk of oversaturation in rented properties while fostering a community vibe that attracts stable, long-term tenants. The unit to houses ratio sits comfortably at 1%, indicating a dominant presence of houses over units. This supports the potential for long-term tenancies and reduces the risk of oversupply common in markets with high unit concentrations.

    However, it’s worth noting that the affordability index touches on 34 years, which raises some concerns about the overall accessibility of homeownership within the region.

    The positive note continues with the stock on market Percentage for houses at a mere 0.06%, indicating an exceedingly low supply and hence a favourable market condition. The inventory level echoes this sentiment of minimal market saturation, with only 0.41 months required on average to absorb the available stock, which again points to a robust and active property market.

    The building approvals ratio for houses is 0.06%, which likewise signifies restrained growth in new housing stock that can prevent oversupply issues. Average days on the market for houses are at a brisk 28 days, indicative of high demand and an active selling market, further affirmed by a low vacancy rate across houses and units of 0.77%.

    However, the buy search index for houses stands at 3. While it’s within a neutral range, it can signal limited search demand and be something property investors may want to keep tabs on the medium to longer-term.

    Encompassing the findings, although some metrics fall slightly short, the Derrimut market demonstrates several promising signs and fundamental strengths. It’s important to leverage this data to make informed strategic decisions while keeping a close look at the market trends. To add, the utilisation of analytics tools such as HtAG’s Relative Composite Score could further streamline this process by aggregating and simplifying market data based on over 80 metrics.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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