Oak Park has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 13.23% to date .
If we look at median property appreciation over just the last three months, Oak Park has given property investors a paper return of 5.66%. This puts Suburb as 98 on a list of fastest fasting appreciating suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Oak Park itself are offering an average vendor discount of -2.40% to real estate investors.
Often selling an investment property can take time, and in Oak Park the average time real estate has been on the market is 83.32 days.
Using the current median advertised rental of $392.5 and the average annual increase in value of a median property of 7.89%, investors should hope to achieve an overall return of 2.79%
Giving property investors a a stable capital gain of 5.54% for the last year, Oak Park, 3046 is the 656th highest performer in Australia in this respect.
Across a shorter period, Oak Park, 3046 has seen a median price increase of -2.08% over the last quarter.
Our latest figures would indicate that property sellers in Oak Park are currently offering property investors an average price cut of -4.04% below the asking price at the moment.
Property investors should expect to get $350 weekly from the median priced house in this suburb.