Get a property report and suburb profile for any property in Deer Park

Deer Park is a working-class suburb in Melbourne’s west that mixes long-established residential streets with pockets of industry and newer housing estates. Kororoit Creek and its ribbons of parkland give walking and cycling routes and a green backdrop to everyday life, while housing ranges from post-war weatherboard and brick bungalows to modern townhouses and family homes. The community has 18,145 people, a median age of 35 and a median household income of $1,456 a week, and about three in four families are couples.

Local shops, sporting clubs and community facilities cover day-to-day needs, and transport has been upgraded with a new elevated Deer Park station and transport hub including a bus interchange, bicycle facilities and extra parking as part of the level crossing removals. Nearby freeway and ring-road connections make commuting straightforward and active-transport work on the Kororoit Creek path is progressing. That combination of parks, housing variety and improved transport will appeal to people after an established, well-connected suburb; whether it fits you depends on what you prioritise.

Buying a house in Deer Park sits well above what a typical local household earned at the last Census. A median house price of $700,000 is about 9.2 times a typical local annual household income at the last Census.

On the incomes recorded then, renting is also a sizeable cost. A house rent of about $500 a week would take roughly 34.3% of a household earning $1,456 a week, while a unit rent of about $450 a week would take around 30.9%. So on these figures renting takes a sizeable portion of a typical local household's weekly income, and buying a house sits well above local annual incomes.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Unit values in Deer Park climbed strongly over the past 12 months, up 12.5%. House values also rose, up a solid 6.1%.

Unit rents increased 7.1% over the year, so rental income from units has risen at a solid pace while unit capital growth was the stronger performer this period. Which of those matters to you will depend on whether you prioritise rental income or capital growth.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.