Young Professionals Flock to Oakleigh's Eastern Pocket Amid Rising Values

Median prices for two-bedroom units in Oakleigh's eastern pocket reached $712,000 in the June quarter, up from $585,000 twelve months earlier, according to data from the Oakleigh Real Estate Association.

The shift matters now because the pocket sits within a 15-minute walk of the upgraded Oakleigh Station interchange that opened in March 2025, cutting commute times for workers in nearby office parks and pulling in renters who previously looked farther out.

Buyers are targeting streets such as Portman Street and Eaton Road, where 1920s weatherboard cottages have been converted into open-plan homes with rear decks. The Oakleigh Community Hub on Atherton Road runs a monthly first-home buyer seminar that attracted 48 attendees last month, while the Oakleigh Plaza traders association launched a $180,000 streetscape upgrade in April that added bike racks and lighting along the laneway behind the market.

Prices and buyer profiles

CoreLogic figures released on 8 July show the pocket recorded 37 settled sales in the first half of 2026, compared with 24 in the same period of 2025. First-home buyers under 35 accounted for 61 per cent of those transactions, with the average loan size at $548,000. Rents for one-bedroom flats have climbed to a median $520 per week, according to the same report.

Local agents note that stock is moving within 12 days of listing when priced below $750,000. The pocket's appeal rests on its proximity to the weekly Oakleigh Market and the new 24-hour gym that opened inside the old post office building on Eaton Road in February.

Next steps for buyers

Prospective purchasers should register for the Oakleigh Real Estate Association's August auction preview on 22 July, which will include three Portman Street properties. Checking the latest listings on the association's portal before contacting a local agent remains the quickest route to securing an inspection in the current tight market.

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.