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Oakleigh

POSTAL CODE: VIC, 3166
HOUSE
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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 3.85% 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 1.58% per annum over a 3-year period.

OAKLEIGH now ranks at the 416th 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 $645 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 68 days.

In 2016, 67 properties were sold in OAKLEIGH during the past year, making it the 94th most active market in VIC based on total real estate transactions.

Surburb overview


Oakleigh is an inner-south-eastern suburb of Melbourne located within the City of Monash. The suburb is situated approximately 14 kilometres south-east of the Melbourne central business district and is bordered by Hughesdale, Huntingdale, Oakleigh East and Clayton.

Oakleigh recorded a population of around 8,500 residents at the 2021 census, reflecting its compact size and concentration around a well-defined activity centre. The demographic profile includes a mix of families, professionals, students and older residents, with a median age close to the metropolitan average. The suburb is known for its cultural diversity, with a significant proportion of residents born overseas and a long-established Greek community.

Housing in Oakleigh comprises a mix of detached houses, townhouses, and a growing number of low- and mid-rise apartment developments. Residential density is highest near the town centre and railway station, while surrounding streets retain a traditional suburban character.

Public transport access is a defining feature, with Oakleigh railway station located on the Pakenham and Cranbourne lines. The station provides frequent train services to the Melbourne CBD and the south-eastern suburbs, and serves as a key transport interchange.

Bus services operate through Oakleigh and connect the suburb with Monash University, Chadstone Shopping Centre and surrounding residential areas. Road access is supported by Princes Highway, North Road and Warrigal Road, which facilitate east–west and north–south travel but experience congestion during peak periods.

Oakleigh’s town centre is a major local and regional destination, centred on Eaton Mall and surrounding streets. The precinct contains supermarkets, specialty food retailers, cafés, restaurants, medical clinics and professional services. The hospitality and dining sector is a significant contributor to local employment and street activity. 

Educational facilities in and around Oakleigh include several primary and secondary schools, as well as proximity to tertiary institutions such as Monash University.

Recreational amenities include local parks, sporting reserves and access to the Scotchmans Creek Trail, which supports walking and cycling through the area. Public open space is distributed across smaller neighbourhood parks rather than large central reserves.

Employment among residents spans hospitality, retail, education, health care and professional services, with many working locally or commuting to other parts of Melbourne.

Oakleigh’s character is shaped by its strong rail access, active town centre and diverse community within Melbourne’s inner south-east.

 

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