With a capital gain of 35.94% for the last 12 months, Oakleigh, 3166 has performed for property investments than its average annual 2.11% property growth over the last 5 years.
The five-year average increase in median property values for Oakleigh,3166 has given property investors a potential capital gain of 35.61% across each of those five years.
Oakleigh3166 is located in VIC which offers an average discount of -1.95% to property investors. Oakleigh itself is showing figures that indicate -7.14% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 5.25 sales per month, which equates to 63 per year.
Oakleigh, 3166’s gross rental yield is 9.91%
Over the last year, property investments in Oakleigh, 3166 have given investors a capital gain of 0.00%. This compares very badly with the 22.48% for VIC as a whole.
If we look at median property appreciation over just the last three months, Oakleigh has given property investors a paper return of 12.10%. This puts Suburb as 124 on a list of fastest fasting appreciating suburbs in VIC
At number 200th of VIC’s most discounted properties, Oakleigh is in the TOP 40% of the state/territory when listing in order of most discounted to least.
A $0 per week rent on the median house gives suburb investors a gross yield of circa 0.00%, without taking into account capital value appreciation, which has been averaging out at 0.00%.
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Information supplied by:
YIP MAG
July 2016
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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.
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.