Diamond Creek (postcode 3089) is a settled mid-to-large suburb in Victoria within the Nillumbik local government area. It is home to about 12,503 residents, with an established family demographic and a median age of 39. Households earn a median income of $130K 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 +0.4% 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, technicians & trades, managers. Employment in the area leans toward construction and healthcare. The top ancestries reported are English, Australian, Irish.
The median house price in Diamond Creek is $875,000, having fallen sharply by 19.7% over the past year. Units have a median price of $823,000 (+4.2% YoY). The current median weekly rent is $580. This gives a gross rental yield of approximately 3.4%. The median monthly mortgage repayment is $2,167.
Diamond Creek is served by 4 schools, including 3 primary, 1 secondary. The average ICSEA score is 1058, which is above the national average of 1,000. Public transport access includes 4 rail stations, 40 bus stops. The crime rate in the Nillumbik LGA is below average at 3,681 incidents per 100,000 population.
From an investment perspective, Diamond Creek shows a gross rental yield of approximately 3.4%, rated as moderate yield. Property prices are near the state median ($875K/$875K). The price-to-income ratio of 6.7x is considered moderate. House prices have moved -19.7% year-on-year. Population growth of +0.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.