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Oakleigh, VIC 3166

Home » VIC Real Estate Data » Monash City, VIC » Oakleigh, VIC 3166

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Oakleigh, VIC 3166 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Oakleigh, VIC 3166”

  1. The total adult population (15 years or older) of Oakleigh 3166 VIC is 7,208, with a median age of 38. Of those, 44.85% are married, 9.57% are divorced or separated, 40.21% are single and 5.37% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $9,820. The median monthly mortgage repayment for households in this suburb is $2,100 which is 21.38% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in the state of Victoria, the suburb of Oakleigh 3166 is home to approximately 5331 households. As of Q3 2023, the typical prices for houses in Oakleigh 3166 are $1,529,704 with a median weekly rent standing at $555. These prices result in an indicative yield of 1.89%, which falls short of the 3% minimum attractive market requirement for cashflow-centered property investors.

    The suburb boasts an IRSAD score of 1061 out of 1217, indicating that the socio-economic condition of the area is relatively favourable, reflective of good access to economic resources, higher average income levels and a significant number of attractive professions.

    In terms of the property market’s structure, Oakleigh holds a renter to owner ratio of 35% and a units to houses ratio of 38%. When compared to the ideal market figures, the renter to owner ratio may present long-term returns risks, however the unit to house ratio is within the favourable range under 50%, affirming less competition among landlords for tenants and likelihood of longer tenancy periods.

    Regarding affordability, the time needed to fully own property in Oakleigh is calculated to be 61 years, which falls on the higher side making it less affordable for residents and potential homeowners based on a standard 30-year mortgage calculation.

    Oakleigh’s property market also indicates a promising future with favourable supply metrics. The stock on market Percentage stands at a low 0.12% and the inventory takes only about 0.6 months to get absorbed. These figures, together with a Building Approval Ratio of 0.63% signals a market with controlled supply, which often yields higher competition and thus, potentially higher prices.

    The demand in Oakleigh stays balanced with a recorded 27 days on the market for houses signifying a high demand. The vacancy rate (for both houses and units) stands at 1.25%, further indicating a high demand from renters. The buy search index for houses registers at 4, which falls within the neutral range.

    While Oakleigh presents favourable figures in terms of socio-economic score, property market structure, and low supply, the low indicative yield, high affordability index and neutral buy search index may require investors to give it a closer look. Nonetheless, with the majority of metrics in the favourable and neutral region, it remains a viable option for investment. Beyond the metrics, one should also catch sight of the Relative Composite Score developed by HtAG Analytics which provides automation to the above research using over 80 metrics. As always, keeping a close eye on the market developments is crucial for making beneficial real estate investment decisions.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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