Investment property in Oakleigh has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.24%
Oakleigh,3166 was ranked 3312 in Australia by increase in median property value over the quarter.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.20% offered to property buyers. Sellers in Oakleigh itself are offering an average vendor discount of -11.52% to real estate investors.
VIC has seen average median house prices change by 7.73% which means that Oakleigh, 3166 has done well for property investors by showing a capital gain of 10.18% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Oakleigh comes in at number 337th in VIC.
The most recent median price for Oakleigh is $445500, with sellers offering an average of -3.84% off the asking price.
The VIC suburb of Oakleigh, 3166 is in the Monash local government area.
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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.Full summary
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.
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