Oakleigh (postcode 3166) is a medium-sized suburb in Victoria within the Monash local government area. The area has roughly 8,442 residents and an established demographic, with a median age of 38. Households earn a median income of $100K per year, with an average household size of 2.5 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.6% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Greek.
Median house prices in Oakleigh stand at $1.3 million, having dipped slightly by 1.9% over the last twelve months. Units have a median price of $521,000 (-8.6% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 2.5%. The median monthly mortgage repayment is $2,100.
Oakleigh is served by 3 schools, including 2 primary, 1 combined. The average ICSEA score is 1113, which is well above the national average of 1,000. Public transport access includes 13 rail stations, 46 bus stops. The crime rate in the Monash LGA is moderate at 7,127 incidents per 100,000 population.
Looking at the investment signals, Oakleigh shows a gross rental yield of approximately 2.5%, rated as low yield. Property prices are above the state median ($1.3M/$875K), placing it in the premium segment. The price-to-income ratio of 13.1x is considered stretched. House prices have moved -1.9% year-on-year. Population growth of +1.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.