Suburb Profile Report for Oak Park VIC (3046)

Oak Park House: Median price $878,168, Annual capital growth 6.96%, Number of sales 60, Weekly median advertised rent $410

Oak Park Unit: Median price $617,500, Annual capital growth 5.25%, Number of sales 61, Weekly median advertised rent $390

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
  • House Report
  • Unit Report

If you compare the increase in value of investment property in Oak Park, 3046 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 2.57%.

The five-year average increase in median property values for Oak Park,3046 has given property investors a potential capital gain of 67.27% across each of those five years.

Oak Park3046 is located in VIC which offers an average discount of -5.19% to property investors. Oak Park itself is showing figures that indicate -5.51% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in Oak Park the average time real estate has been on the market is 36.85 days.

Oak Park is 473th on a list of best yielding suburbs for rents in VIC with a 2.43% return

Property value increases in Oak Park have tracked higher than the VIC average of 7.50% over the last 12 months.

Taking the average capital gain, or increase in median house value, Oak Park,3046 has racked up an average of 17.51% over the period. This ranks it number 311th in the whole country for real estate investors looking at median house price increases.

Oak Park3046 is located in VIC which offers an average discount of -4.65% to property investors. Oak Park itself is showing figures that indicate -3.31% is the average achievable by property buyers investing in the suburb.

In the last year 61 properties changed hands in Oak Park, which puts it as the 126th most active market in VIC when comparing the number of sales per suburb.

A $390 per week rent on the median house gives suburb investors a gross yield of circa 3.28%, without taking into account capital value appreciation, which has been averaging out at 5.25%.

Metrics i HOUSE UNIT
$878,168 $617,500
0.36% -0.40%
2.57% 17.51%
6.96% 5.25%
$410 $390
60 61
2.43% 3.28%
36.85 68.1

Source: CoreLogic

DSR Score for property investment : 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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