All About Oakleigh, Monash, VIC, 3166

The housing market in Oakleigh, a suburb within the City of Monash in Victoria, has experienced significant growth and transformation in recent years. Known for its vibrant multicultural community and rich Greek heritage, Oakleigh offers a unique blend of suburban tranquility and urban convenience, making it highly attractive to homebuyers and investors. The demand for housing in Oakleigh is driven by its strategic location approximately 14 km southeast of Melbourne's Central Business District, coupled with excellent public transport links, including trains and buses. Over the years, there has been a noticeable increase in the development of modern apartments and townhouses, though traditional family homes and period properties remain prevalent. The median house price in Oakleigh has generally been on an upward trajectory, reflecting its desirability and the overall trend in the Melbourne property market, with buyers drawn by the suburb’s strong community feel, quality schools, and thriving local amenities.

Living in Oakleigh offers a rich and rewarding experience characterized by diverse cultural influences and a strong sense of community. The suburb boasts an eclectic mix of dining options, particularly concentrated in and around Eaton Mall, where residents and visitors alike can enjoy authentic Greek cuisine alongside a variety of other international culinary delights. Oakleigh is also well-served by parks and recreational facilities, making it appealing for families and outdoor enthusiasts. The suburb's community is active and engaged, with numerous local events and festivals celebrating its multicultural heritage. Educational facilities are a highlight, with several highly regarded primary and secondary schools in the area. Additionally, Oakleigh provides a safe and friendly environment, where the blend of cultural richness and suburban charm creates a fulfilling lifestyle for its residents.

Oakleigh Real Estate Market Outlook

Thinking about buying in Oakleigh? Now could not be a better time, with 6174 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,408,000 with prices in this suburb ranging from $231,000 to $5,144,000. Oakleigh is located fairly close to the coast at just 8Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Consistent high demand relative to supply is a key feature in Oakleigh driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Oakleigh ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Oakleigh classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Oakleigh requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

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Public Transport

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General Points of Interest

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