Oakleigh has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 5.11% to date .
Comparing Oakleigh,3166 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Oakleigh is offering property investors an average of -5.80. This rate of discount on properties puts Suburb at number 47th in terms of most discounted suburbs in VIC
Often selling an investment property can take time, and in Oakleigh the average time real estate has been on the market is 97.17 days.
Situated 15.04km from the CBD, Oakleigh is one of Monash localities in the postcode 3166.
Oakleigh, 3166 ranked 372th in VIC when comparing growth in median property values or capital gain over the last 12 months. Oakleigh is one of 2098 in our list for VIC
Across a shorter period, Oakleigh, 3166 has seen a median price increase of -5.98% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Oakleigh is offering property investors an average of -5.03. This rate of discount on properties puts Suburb at number 290th in terms of most discounted suburbs in VIC
With the median price for a house in Oakleigh being $430000 and the advertised rent reaching $392.5 the gross rental yield for property investors calculates out to be 4.75%
The suburb of Oakleigh is known for being strongly influenced by Greek culture brought to the area by immigrants in the 20th century.Full summary
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The suburb of Oakleigh is known for being strongly influenced by Greek culture brought to the area by immigrants in the 20th century.Close
It is one of the largest CBDs near Melbourne.
Given its short distance from Melbourne and wealth of amenities, Oakleigh is one of the more expensive suburbs in Victoria.
Atherton Road, the suburb’s main street, has much historical value and the highest-priced homes in the area.
This area is populated by many food establishments, hotels and shops, making it a lively hub for locals.
The pedestrian zone on Eaton Street links Atherton Road to the Centro Shopping Centre and train station; from here, residents can travel to Melbourne in just half an hour.
According to Frank Scalise, property consultant at Woodards Oakleigh, residents mainly prefer large family homes with four bedrooms and two bathrooms or high-priced Californian bungalows.
Many locals are also professionals renting smaller units in proximity to the CBD, though they may be looking to trade up to larger homes.
Streets such as Abbeygate are particularly popular because they remain residential family areas untouched by developers.
Such pockets are also close to shopping centres and public transport, such as bus services.
As a result, Oakleigh experienced reasonable 7.6% growth over the past year and 14% growth over the past three years.
The vacancy rate also dropped in the past 12 months by 0.2%, to a low rate of 1.6%.
CoreLogic RP Data stats indicate that the suburb has high capital growth potential.