Over the last year, property investments in Oakleigh, 3166 have given investors a capital gain of 8.38%. This compares averagely with the 8.13% for VIC as a whole.
A 42.82% growth in median value for property investors in Oakleigh,3166 puts this suburb at number 547th in terms of best performing suburbs in VIC
Oakleigh, 3166 is offering VIC ‘s 217th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
Often selling an investment property can take time, and in Oakleigh the average time real estate has been on the market is 77.17 days.
Renters in Suburb are facing rents around $5280 per annum or $440 every week.
Oakleigh has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 9.69% to date .
Oakleigh,3166 has offered an average of 9.69% return per annum in house price rises to property investors over the last three years.
At number 206th of VIC’s most discounted properties, Oakleigh is in the TOP 40% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 3.33 sales per month, which equates to 40 per year.
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.