Suburb Profile Report for Oak Park VIC (3046)

Oak Park House: Median price $843,500, Annual capital growth 5.76%, Number of sales 56, Weekly median advertised rent $450

Oak Park Unit: Median price $661,000, Annual capital growth 5.38%, Number of sales 71, Weekly median advertised rent $410

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Oak Park is an average performer in VIC when comparing median price capital growth over the last year. Oak Park gave property investors a good capital gain figure when compared to the rest of the state, with 4.30%.

When looking at the potential capital gains offered to property investors over the last 3 years, Oak Park comes in at number 392th in VIC.

Oak Park3046 is located in VIC which offers an average discount of -6.51% to property investors. Oak Park itself is showing figures that indicate -9.08% is the average achievable by property buyers investing in the suburb.

Oak Park has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.94% to date .

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.

Property buyers and investors in Oak Park 3046 should be seeing an average reduction in asking price of around -3.75% . This means that Oak Park is holding prices well when compared to other suburbs in VIC.

Residents and property investors in Oak Park have been waiting around 69 days to sell a property.

With the median price for a house in Oak Park being $661000 and the advertised rent reaching $410 the gross rental yield for property investors calculates out to be 3.23%

Metrics i HOUSE UNIT
$843,500 $661,000
3.82% 0.00%
4.30% 4.94%
5.76% 5.38%
$450 $410
56 71
2.77% 3.23%
58.875 69

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (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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