Suburb Profile Report for Oak Park VIC (3046)

Oak Park House: Median price $831,500, Annual capital growth 8.96%, Number of sales 86, Weekly median advertised rent $410

Oak Park Unit: Median price $520,000, Annual capital growth 6.05%, Number of sales 73, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Oak Park has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 23.19%

The five-year average increase in median property values for Oak Park,3046 has given property investors a potential capital gain of 60.52% across each of those five years.

Oak Park, 3046 is offering VIC ‘s 552th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this VIC.

A $410 per week rent on the median house gives suburb investors a gross yield of circa 2.56%, without taking into account capital value appreciation, which has been averaging out at 8.96%.

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 4.00%

If we look at median property appreciation over just the last three months, Oak Park has given property investors a paper return of 1.96%. This puts Suburb as 162 on a list of fastest fasting appreciating suburbs in VIC

Vendor discounting in Oak Park is giving property investors an average Vendor Discount of around -4.12%. This puts suburb at number 196th in VIC when ranking the most discounted suburbs.

Metrics i HOUSE UNIT
$831,500 $520,000
6.95% 1.96%
23.19% 4.00%
8.96% 6.05%
$410 $360
86 73
2.56% 3.60%
71.3 63.47

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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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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