oakleigh south

3167, Victoria

Real Estate & Property Information

Median
Price Rank
156

oakleigh south Suburb Profile & Review

Oakleigh South is a south-eastern suburb with a strong Greek lineage. Almost 15 per cent of residents only speak Greek in their homes. The abundance of Greek-owned eateries in the area adds to its cosmopolitan European feel. The Oakleigh Cannons Football (soccer) Club was established by Greek immigrants back in the 1970s, and has produced some great talent over the years.

Centro Oakleigh boasts two supermarkets and forty-two other specialist retailers. If that doesn't suffice, Chadstone, the biggest shopping centre in the southern hemisphere, is just around the corner and should tend to any shopping needs. While night spots are sparse, there are some delectable restaurants along Chester and Portman streets.

Oakleigh and Huntingdale stations provide train services on the Cranbourne and Pakenham lines. Oakleigh is also one of the main interchanges in the eastern bus network, meaning there are a many different and convenient routes to outlying and inner city areas.

oakleigh south Demographic Data

$ 613,500 Median House Price

25 Minutes Average Commute

39 Median Age

9,140 Population

50.13 % Female

49.87 % Male

2491 NO OF FAMILIES

1.7 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in oakleigh south, Victoria.

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oakleigh south Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

oakleigh south Median House Prices

  • 2008 $ 472,500
  • 2009 $ 485,000
  • 2010 $ 531,250
  • 2011 $ 627,500
  • 2012 $ 613,500

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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oakleigh south 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in oakleigh south have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term oakleigh south property price predictions.

oakleigh south Market Property Types

  • 91 % Seperate House
  • 2 % Semi Detached
  • 7 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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oakleigh south Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

oakleigh south Income & Mortgage Stats

  • $ 1,270 Median Weekly Household Income
  • $ 1,900 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in oakleigh south

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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oakleigh south Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

oakleigh south Sold Property Prices

oakleigh south Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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oakleigh south Restaurants

  • La Casetta1066 Centre Roadoakleigh south VIC 316703 9579 1700

oakleigh south Schools

  • Oakleigh South Primary SchoolRiley Streetoakleigh south VIC 3167(03) 9570 1016State Primary School
  • South Oakleigh Secondary CollegeBakers Roadoakleigh south VIC 3167(03) 9579 2322State Secondary College

oakleigh south Childcare

  • ABC Learning Centre8 Moresby Streetoakleigh south VIC 3167
  • Bright Beginnings CCC117-119 Golf Roadoakleigh south VIC 3167

oakleigh south Kindergarten and Preschools

  • Germain Street KindergartenGermain Streetoakleigh south VIC 3167
  • Ward Avenue Kindergarten4 Ward Avenueoakleigh south VIC 3167
  • Washington Drive Preschool3 Washington Driveoakleigh south VIC 3167

oakleigh south Sporting Centres and Clubs

  • Little Athletics Centres, Oakleigh, Davies Resoakleigh south VIC 3167Athletics Club
  • Oakleigh, Davies Res, Bill Sewart Athletics Trackoakleigh south VIC 3167Athletics Club
  • South Oakleigh BCoakleigh south VIC 3167Bowling Club

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