Suburb Profile Report for Oak Park VIC (3046)

Oak Park House: Median price $730,350, Annual capital growth 7.89%, Number of sales 76, Weekly median advertised rent $393

Oak Park Unit: Median price $519,000, Annual capital growth 6.19%, Number of sales 57, 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 13.23% 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.

HOUSE UNIT
$730,350 $519,000
5.66% -2.08%
13.23% 5.54%
7.89% 6.19%
$393 $350
76 57
2.79% 3.51%
83.32 47.51

Source: CoreLogic

DSR Score for property investment : Very 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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