property
House Prices Surge While Units Fall in Oakleigh Real Estate Market
Median house values climbed while unit prices eased in the June quarter, shifting options for buyers along key local corridors.
How we reported this
Median house prices in Oakleigh rose 4.2 percent to $912,000 over the three months to 30 June while unit medians dropped 1.8 percent to $485,000, according to data compiled by the Oakleigh Property Institute and released on 7 July.
The split arrives as borrowing costs remain unchanged after the central bank’s June decision and as listings from the winter period reach the market ahead of the traditional spring rush. Local agents report stronger interest in detached homes on larger blocks, while smaller apartments face longer days on market near transport hubs.
Street-level shifts
Three-bedroom houses on Eaton Street and around Oakleigh Village Hall have drawn multiple offers within ten days of listing, with several contracts signed above asking price. In contrast, two-bedroom units in the same postcode, particularly those near the Oakleigh Train Station, have required price adjustments of up to $25,000 to secure buyers. The Oakleigh Community Centre’s weekly information sessions on first-home grants have seen higher attendance from families targeting houses rather than units this month.
One Eaton Street property settled on 15 June for $945,000, a figure 6 percent above the comparable sale recorded in March. A two-bedroom unit two blocks away closed at $462,000 on the same day, down from an initial guide of $485,000.
Buyer and seller moves
Investors who previously favoured units for rental yield are now reviewing numbers on houses in the same streets, where weekly rents have held firmer. Sellers of units listed since April are being advised to review marketing timelines before the September quarter begins. Prospective buyers checking listings this week should compare recent sales on High Street and near the Oakleigh Village Hall to set realistic offers, and factor in body corporate fees when assessing unit options against detached homes.
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.