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Diamond Creek, VIC 3089
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,100,000
market range $1.1M-$1.2M
Median Unit
$795,000
market range $750K-$825K
Gross Yield (units)
4.2%
1yr Growth (houses)
+2.1%
market range -5.0% to +7.5%
Investment snapshot for Diamond Creek
Diamond Creek has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Diamond Creek market and investor summary
Diamond Creek (VIC 3089) runs a median house price of $1.1M. House prices have moved +2.1% over the past year and +10.9% over three years. At 0.3% vacancy, it is a tight rental market that favours landlords.
Rental demand looks steady, with vacancy at 0.3% and a resident base that is not shrinking.
Living in Diamond Creek: people, income and schools
Diamond Creek is home to around 12,503 people, a number that has held fairly steady over five years. The median age is 39, broadly working-age, and 89% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
Households here earn a median of about $130,000 a year, or roughly $2,510 a week. On socio-economic measures it ranks among the most advantaged in the country (9 out of 10 on the ABS advantage index). At current prices a median house runs to about 8.4 times local household income, in line with much of metropolitan Australia. Locally, around 33% of household income goes to mortgage repayments, a level usually flagged as mortgage stress.
There are 21 schools within about 5km, testing a little above the national school average on ICSEA. It is roughly 23 km from the CBD. It is fairly car-dependent; the suburb scores 42 for walkability and 48 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 12,503
- +2% over 5yr
- Median age
- 39 years
- Median household income
- $130,000/yr
- Households renting
- 11%
- Family households
- 54%
- Socio-economic rank
- 9/10
- ABS advantage index
- Schools within 5km
- 21
- avg ICSEA 1069
- Unemployment
- 2.0%
- Distance to CBD
- 23 km
- Walk score
- 42/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Diamond Creek
View all →Frequently asked questions about Diamond Creek
What should I check before investing in Diamond Creek?
Diamond Creek has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.2% gives a usable rent-to-price starting point. Tight rental market (0.3% vacancy) gives landlords pricing power and low rental downtime. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Diamond Creek?
The median property price in Diamond Creek, VIC 3089 is $1.1M for houses and $795K for units.
What rental yield does Diamond Creek show?
The gross rental yield in Diamond Creek is 4.2% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Diamond Creek?
House prices in Diamond Creek are up 2.1% over the past year and up 10.9% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Diamond Creek?
The current vacancy rate in Diamond Creek is 0.3%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Diamond Creek?
Diamond Creek has a population of approximately 12,503 residents, with a median age of 39.
What schools are near Diamond Creek?
There are 21 schools within roughly 5km of Diamond Creek. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Diamond Creek affordable to buy in?
A median house in Diamond Creek costs about 8.4 times the median local household income (broadly in line with metropolitan Australia). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Diamond Creek's population growing?
The population of Diamond Creek has grown modestly, about 2% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Diamond Creek from the CBD?
Diamond Creek is about 23 km from the CBD.
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