Investment property in Oakleigh has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 6.69%
Taking the average capital gain, or increase in median house value, Oakleigh,3166 has racked up an average of 6.69% over the period. This ranks it number 446th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Oakleigh is $1040250, with sellers offering an average of -7.97% off the asking price.
Oakleigh, 3166’s gross rental yield is 2.20%
With a capital gain of -11.56% for the last 12 months, Oakleigh, 3166 has performed for property investments than its average annual 3.96% property growth over the last 5 years.
The five-year average increase in median property values for Oakleigh,3166 has given property investors a potential capital gain of 15.43% across each of those five years.
Oakleigh, 3166 is offering VIC ‘s 308th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this VIC.
At number 45 in a list of fastest selling suburbs, Oakleigh is in the TOP 10% of suburbs in Australia with an average of days on market 33.75 for properties listed there.
Oakleigh is 217th on a list of best yielding suburbs for rents in VIC with a 3.96% return
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.