Suburb Profile Report for Oak Park VIC (3046)

Oak Park House: Median price $732,675, Annual capital growth 7.95%, Number of sales 77, Weekly median advertised rent $395

Oak Park Unit: Median price $505,000, Annual capital growth 5.88%, Number of sales 69, Weekly median advertised rent $350

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Oak Park has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 13.59% to date .

Oak Park,3046 was ranked 640 in Australia by increase in median property value over the quarter.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Oak Park, 3046. Typically our figures indicate that -2.25% is being offered, which puts this VIC suburb at 3707th most discounted overall in Australia.

With the median price for a house in Oak Park being $732675 and the advertised rent reaching $395 the gross rental yield for property investors calculates out to be 2.80%

Investment property in Oak Park has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.51%

When looking at the potential capital gains offered to property investors over the last 3 years, Oak Park comes in at number 219th in VIC.

The most recent median price for Oak Park is $505000, with sellers offering an average of -3.98% off the asking price.

At number 282 in a list of fastest selling suburbs, Oak Park is in the TOP 20% of suburbs in Australia with an average of days on market 53.6 for properties listed there.

Renters in Suburb are facing rents around $4200 per annum or $350 every week.

HOUSE UNIT
$732,675 $505,000
5.42% -4.72%
13.59% 1.51%
7.95% 5.88%
$395 $350
77 69
2.80% 3.60%
92.2 53.6

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 5772
Median household income ($/weekly) 1337
Median age of persons 36
Median housing loan repayment ($/monthly) 1907
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 614 10.6
    25-34 years 1030 17.8
    35-44 years 869 15.1
    45-54 years 775 13.4
    55-64 years 510 8.8
    Others 1974 34.2
    Age Group
    Census Count Percent(%)
    Registered Married 2225 49.8
    Not Married 1901 42.5
    Defacto Relationship 345 7.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3782 69.0
    Croatia 163 3.0
    Indonesia 229 4.2
    Japan 184 3.4
    Other 221 4.0
    Others 900 16.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 149 2.8
    Christianity 3449 65.3
    Hinduism 127 2.4
    Islam 332 6.3
    No Religion 1156 21.9
    Others 70 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 193 10.0
    $600-$799 183 9.5
    $1,250-$1,499 167 8.6
    $1,500-$1,999 235 12.1
    $2,000-$2,499 220 11.4
    Others 937 48.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1851 40.6
    Not in the labour force 1528 33.5
    Employed, worked part-time 815 17.9
    Employed, away from work 233 5.1
    Unemployed, looking for work 137 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 331 11.4
    Professionals 676 23.3
    Technicians & trades workers 412 14.2
    Clerical & administrative workers 539 18.6
    Sales 275 9.5
    Others 668 23.0
    Occupation
    Census Count Percent(%)
    Pre-school 78 6.1
    Infants/Primary 385 30.1
    Secondary 340 26.6
    Technical or Further Educational Institution 124 9.7
    University or other Tertiary Institutions 289 22.6
    Others 61 4.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4052 74.0
    Semi-detached, row or terrace house, townhouse 1201 21.9
    Flat, unit or apartment 217 4.0
    House or flat attached to a shop, office 9 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 812 38.9
    Being purchased 786 37.6
    Rented 483 23.1
    Other tenure type 9 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals