Giving property investors a an average capital gain of 6.53% for the last year, Oakleigh, 3166 is the 2014th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Oakleigh,3166 has racked up an average of 6.53% over the period. This ranks it number 816th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Oakleigh are currently offering property investors an average price cut of -10.37% below the asking price at the moment.
A $445 per week rent on the median house gives suburb investors a gross yield of circa 2.15%, without taking into account capital value appreciation, which has been averaging out at 8.80%.
Oakleigh, 3166 ranked 376th 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
Taking the average capital gain, or increase in median house value, Oakleigh,3166 has racked up an average of -27.50% over the period. This ranks it number 1576th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Oakleigh is giving property investors an average Vendor Discount of around -2.83%. This puts suburb at number 276th in VIC when ranking the most discounted suburbs.
Residents and property investors in Oakleigh have been waiting around 32.6 days to sell a property.
Property investors should expect to get $395 weekly from the median priced house in this suburb.
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.