Get a property report and suburb profile for any property in Diamond Creek

Diamond Creek is a leafy suburb in Melbourne's north-east along the creek that gives it its name, within the Shire of Nillumbik. It has a recognisable village centre of shops, cafes and community facilities clustered near the train station on the Hurstbridge line. Life leans towards relaxed, outdoorsy living with creek-side walking and cycling tracks, parks and local sports clubs, and housing ranges from older weatherboard and brick cottages to modern family homes and semi-rural blocks on the fringes.

Home to 12,503 people with a median age of 39, Diamond Creek is weighted towards families, with couple families with children at 55.3% and most homes owner-occupied (89.9%). The station was upgraded as part of the Hurstbridge Line Duplication, and council planning proposes a new community hub with a library and an aquatic centre. Local upgrades to playgrounds, the pool, oval and Men’s Shed are underway. Whether it suits you depends on what you want from a green, village-style suburb.

At a median house price of $1,100,000, buying in Diamond Creek works out to about 8.4 times a typical local annual household income at the last Census, which places buying well above local incomes. At $680 a week against a typical local household income of $2,508 a week at the last Census, renting a house would take about 27.1% of that income, a moderate share.

If you're renting rather than buying, that rent share is the immediate measure; if you're looking to buy, the price multiple shows buying sits more stretched against what people locally earned at the last Census. Whether that feels expensive depends on your own income and circumstances.

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

The clearest movement in Diamond Creek over the past year is in house rents, which rose a solid 7.9%. House values edged up by a marginal 1.6% over the same period, while unit values declined by a moderate 3.7%. For someone weighing Diamond Creek as an investment, that means the rent a house earns has been the stronger performer this year, while capital growth on houses was only slight and unit values moved in the opposite direction. Whether that balance fits your objectives depends on what you are looking for.

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.