Suburb Profile Report for Oak Park VIC (3046)

Oak Park House: Median price $790,000, Annual capital growth 6.19%, Number of sales 67, Weekly median advertised rent $445

Oak Park Unit: Median price $645,000, Annual capital growth 5.30%, Number of sales 49, Weekly median advertised rent $418

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

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Giving property investors a an unimpressive capital gain of -6.56% for the last year, Oak Park, 3046 is the 2913th highest performer in Australia in this respect.

Across a shorter period, Oak Park, 3046 has seen a median price increase of -2.47% over the last quarter.

The most recent median price for Oak Park is $790000, with sellers offering an average of -7.28% off the asking price.

On average over the past year, suburb has had 5.58 sales per month, which equates to 67 per year.

The VIC suburb of Oak Park, 3046 is in the Moreland (C) local government area.

If you compare the increase in value of investment property in Oak Park, 3046 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 2.40%.

A 36.51% growth in median value for property investors in Oak Park,3046 puts this suburb at number 203th in terms of best performing suburbs in VIC

Property investors looking for a bargain in Oak Park should be aiming for at least -6.21% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 49 properties changed hands in Oak Park, which puts it as the 116th most active market in VIC when comparing the number of sales per suburb.

A $417.5 per week rent on the median house gives suburb investors a gross yield of circa 3.37%, without taking into account capital value appreciation, which has been averaging out at 5.30%.

Metrics i HOUSE UNIT
$790,000 $645,000
-2.47% -0.77%
-6.56% 2.40%
6.19% 5.30%
$445 $418
67 49
2.93% 3.37%
63.6511627906977 63.0384615384616

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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