property
Oakleigh's Overlooked Northern Pocket on the Cusp of Rezoning
The stretch around Elm Street and the former rail yards could open to higher-density housing after the July planning panel meeting.
How we reported this
City planners filed notice last week that the northern edge of Oakleigh, bounded by Elm Street and the disused rail spur, will face a rezoning assessment on 22 July.
The review arrives as Oakleigh records its strongest half-year sales since 2023, with buyers circling sites long locked in light-industrial zoning. Council documents show the panel will weigh changes that could allow four-storey apartments and townhouses on parcels now limited to single-storey sheds and warehouses.
Why the timing matters
Local demand has outpaced supply for two straight quarters. The Oakleigh Markets site on Station Road reported 14 per cent more foot traffic in May than the same month last year, while the Oakleigh Recreation Reserve recorded 2,300 additional bookings for community programs between January and June. Those numbers signal residents are already treating the northern pocket as part of the everyday suburb rather than an industrial leftover.
Real-estate agents tracking listings along Riverside Avenue say three warehouses sold above asking price in the past fortnight, each fetching between $1.05 million and $1.18 million. Median prices for detached houses in the same micro-area climbed to $872,000 by the end of June, up $64,000 from December 2025 figures released by the Oakleigh Property Association.
What buyers should watch next
Anyone eyeing land should download the draft rezoning maps from the council website before 15 July and attend the public submission session at the Oakleigh Community Hall on Drummond Street. Early applications for pre-lodgement meetings with planning officers are already filling the August calendar, according to the council’s online booking system. Investors who wait until after the panel decision risk paying a premium once the new controls are gazetted.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.