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Diamond Creek, VIC 3089

Home » VIC Real Estate Data » Nillumbik Shire, VIC » Diamond Creek, VIC 3089

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 Diamond Creek, VIC 3089 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.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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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 “Diamond Creek, VIC 3089”

  1. The total adult population (15 years or older) of Diamond Creek 3089 VIC is 10,080, with a median age of 39. Of those, 53.18% are married, 9.40% are divorced or separated, 34.23% are single and 3.19% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $11,044. The median monthly mortgage repayment for households in this suburb is $2,167 which is 19.62% of their earnings.

    Source: ABS Census Data (2021)

  2. Diamond Creek postcode 3089 is a suburban locale in Victoria, comprising an estimated 5129 households. As we entered the third quarter of 2023, the typical house price in Diamond Creek was pegged at a significant $971,171. Each week, median rents came in at $584, resulting in an indicative yield of around 3.13%.

    The IRSAD score, a representation of socio-economic prowess, stands fairly good at 1072 out of 1217 for this suburb. This indicates a capital-intensive demographic with higher incomes and greater access to economic resources. The renter to owner ratio is a mere 10%, much lower than our cut-off of 30%, hinting towards a relatively stable and secure market for property investors. Furthermore, the units to houses ratio, at 6%, tells a story of less competition for tenants, potentially leading the way for more mutually beneficial tenancy agreements.

    However, it’s crucial to note the affordability index, which tips the scales at 34 years for houses. This may indicate a comparative difficulty for residents to transition from renters to homeowners, as it’ll take about 34 years of income for families in the suburb to completely own a house.

    When it comes to supply, with the stock on market Percentage for houses as low as 0.18%, and the inventory level for houses standing at 0.69 months, Diamond Creek indicates significant potential for investors. There’s a fairly low supply, which is usually favourable for property values. The Building Approval Ratio for houses is 0.81%, a neutral indicator, showing a balanced growth in housing supply.

    On the demand front, with an average of 31 days on the market for a house, we’re seeing a high-demand trend for properties in the area. The vacancy rate for both houses and units combined is at 2.54%, a neutral indication – neither high nor low demand. Meanwhile, the buy search index for houses is at 5, suggesting a neutral level of buyer interest.

    In conclusion, while Diamond Creek displays some challenges with affordability, it showcases attractive investment potential, with impressive socio-economic metrics and well-balanced supply and demand markers. Specific to property types, houses in Diamond Creek are showcasing favourable indicators for investors.

    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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