Suburb Profile Report for Oak Park VIC (3046)

Oak Park House: Median price $810,000, Annual capital growth 6.39%, Number of sales 64, Weekly median advertised rent $420

Oak Park Unit: Median price $629,900, Annual capital growth 5.18%, Number of sales 64, Weekly median advertised rent $400

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

Giving property investors a an unimpressive capital gain of -4.14% for the last year, Oak Park, 3046 is the 3159th highest performer in Australia in this respect.

Comparing Oak Park,3046 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Our latest figures would indicate that property sellers in Oak Park are currently offering property investors an average price cut of -4.03% below the asking price at the moment.

Property value increases in Oak Park have tracked just higher than the VIC average of 2.97% over the last 12 months.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Oak Park has increased when compared to the 5 year average annual rate.

LACK OF BUYER INTEREST may well be the reason that Oak Park is offering property investors an average of -5.13. This rate of discount on properties puts Suburb at number 128th in terms of most discounted suburbs in VIC

At number 383 in a list of fastest selling suburbs, Oak Park is in the TOP 30% of suburbs in Australia with an average of days on market 53.73 for properties listed there.

With the median price for a house in Oak Park being $629900 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 3.30%

Metrics i HOUSE UNIT
$810,000 $629,900
-3.28% 0.00%
-4.14% 8.14%
6.39% 5.18%
$420 $400
64 64
2.70% 3.30%
40.82 53.73

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Above average (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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