OAKLEIGH, 3166 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling OAKLEIGH, 3166 values up and netting property investors a capital gain of 17.11% for the past year.
Investors saw the median home price rise to $1,215,000.
Profits due to an upward trend in home prices in the suburb averaged 17.29% per annum over a 3-year period.
OAKLEIGH now ranks at the 465th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in OAKLEIGH are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $455 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In OAKLEIGH, homes and units usually stay on listing for an average of 65.0 days.
In 2016, 75 properties were sold in OAKLEIGH during the past year, making it the 79th most active market in VIC based on total real estate transactions.
OAKLEIGH ranks 115th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
OAKLEIGH, 3166 has a capital gain of -1.74% for the past year, which is lower than average compared to its 7.62% growth within a five-year period.
With the median home price in OAKLEIGH sitting at $452,000, and the average rent at $400, property owners could potentially earn a 4.6% increase in gross rental yield.
Property investors have seen a -0.6% drop in OAKLEIGH based on a decrease in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that OAKLEIGH, 3166 obtained a 2.24% growth over a ten-year period. It ranks 152nd on our list of suburbs that property investors should look into.