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 18.68% for the past year.
Investors saw the median home price rise to $1,237,500.
Profits due to an upward trend in home prices in the suburb averaged 16.79% per annum over a 3-year period.
OAKLEIGH now ranks at the 242nd 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 $470 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 89.4 days.
In 2016, 82 properties were sold in OAKLEIGH during the past year, making it the 52nd most active market in VIC based on total real estate transactions.
OAKLEIGH ranks 162nd 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 15.8% for the past year, which is higher than average compared to its 18.28% growth within a five-year period.
OAKLEIGH, 3166 ranks 236th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 15.8% for property investors last year.
With the median home price in OAKLEIGH sitting at $469,000, and the average rent at $410, property owners could potentially earn a 4.55% increase in gross rental yield.
Property investors have seen a 12.74% gain in OAKLEIGH based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on OAKLEIGH, 3166 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 15.8%.
A survey of average capital gains or median home price increase in suburbs across the country shows that OAKLEIGH, 3166 obtained a 2.29% growth over a ten-year period. It ranks 19th on our list of suburbs that property investors should look into.