Deer Park (postcode 3023) is a settled mid-to-large suburb in Victoria within the Brimbank local government area. With a population of 18,145, the suburb has a blend of families and working-age professionals with a median age of 35. Households earn a median income of $76K per year, with an average household size of 2.9 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.3% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, labourers, machinery operators & drivers. Employment in the area leans toward healthcare and manufacturing. The top ancestries reported are Vietnamese, Australian, English.
The median house price in Deer Park is $670,000, having ticked up by 1.9% over the past year. Units have a median price of $557,000 (+14.6% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 3.6%. The median monthly mortgage repayment is $1,689.
Deer Park is served by 3 schools, including 3 primary. The average ICSEA score is 981, which is around the national average of 1,000. Public transport access includes 22 rail stations, 49 bus stops. The crime rate in the Brimbank LGA is higher than average at 9,438 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 3.6% (moderate yield). Property prices are near the state median ($670K/$875K). The price-to-income ratio of 8.8x is considered moderate. House prices have moved +1.9% year-on-year. Population growth of +0.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.