Suburb Deep Dives · 27 October 2026 · 7 min read
Oakleigh South (VIC 3166) in Focus 2026: Is It a Good Investment? R-Score 95/100, 3% Yield & Best Streets
Data analysis by the Ripehouse research desk · Reviewed by Anna Cooper, Co-Founder & COO, former Managing Editor of Australian Property Investor Magazine
Is Oakleigh South (VIC 3166) a good suburb to invest in 2026? Our October 2026 quantitative audit scores Oakleigh South at 95/100 (Ranked #829 of 15,286 suburbs), with a $1,230,000 median house price (+0.6% 12m), $700/wk rent (3% yield), and 73 top-tier streets scoring 75–100/100.
Market Classification: Affluent Owner-Occupier Upgrader Market · R-Score: 95/100 (National Rank #829 of 15,286) · Street Average: 58/100 across 151 streets.
Oakleigh South is an established, high-income owner-occupier market where land scarcity and school/amenity appeal drive long-term capital values ($1,230,000 median). Because gross rental yields sit at 3%, this is not a cashflow play—it is a scarcity and land-banking market suited to high-income investors or rentvestors who prioritise street-level prestige and long-term compounding over immediate net yield.
“I’d pay close attention to the street spread here: 73 of 133 streets score at least 75, but 39 score below 50. That is too wide a range to treat Oakleigh South as one uniform market, particularly when the gross yield is only 3%.”
Below is our full October 2026 quantitative and street-level breakdown for Oakleigh South (VIC 3166), combining 36 months of settled price and rental history from our Aurora research warehouse, council-level supply and employment data for Monash (VIC), and block-by-block ABS 2021 Census SA1 tenure and yield rankings across 5,903 residential addresses.
1. Oakleigh South (VIC) 3-Year Market Trajectory & 27-Indicator R-Score (October 2026)
Over the past 12 months, Oakleigh South’s median house price moved +0.6% (from $1,223,000 to $1,230,000), bringing its 3-year cumulative price movement to +11% (from $1,108,000 three years ago). On the rental side, median weekly asking rents moved +4.5% over the past year to $700/wk (+26.4% over 36 months), equating to a 3% gross rental yield. Compared with 12 months ago—when Oakleigh South carried an R-Score of 81/100—its current composite R-Score of 95/100 represents a +14-point shift in underlying market pressure.
| Indicator / R-Score Pillar | Oakleigh South (VIC) Current | 12-Month / 36-Month Context |
|---|---|---|
| Composite Suburb R-Score | 95 / 100 | Ranked #829 of 15,286 suburbs (was 81/100 12m ago) |
| Median House Price | $1,230,000 | 12m change: +0.6% · 36m change: +11% |
| Median Weekly Rent & Gross Yield | $700/wk (3%) | 12m rent change: +4.5% · 36m rent change: +26.4% |
| Rental Vacancy & Days on Market | 2.9% vacancy | Median selling time: 50 days on market (1.5% vacancy is the tight-market line) |
| Pillar 1: Buyer Demand | 49 / 100 | Measures days-on-market compression, vendor discounting & sales velocity |
| Pillar 2: Supply & Ownership | 35 / 100 | Measures stock on market, building approvals vs stock & owner-occupier share |
| Pillar 3: Price Momentum | 74 / 100 | Measures short/medium-term price velocity vs Monash & VIC |
| Pillar 4: Yield Pressure | 39 / 100 | Measures gross rental yield, rent trajectory & vacancy compression |
2. The “Two-Speed Suburb” Test: Best & Worst Streets in Oakleigh South (VIC)
Why do two 4-bedroom houses in Oakleigh South achieve completely different bank valuations and tenant quality? Because suburb medians blend every pocket together. When we map all 5,903 addresses across 151 streets in Oakleigh South through G-NAF to their ABS 2021 Census SA1 blocks, the suburb splits into three distinct tiers:
- Strong Street Profile (Score 75–100): 73 streets (55% of scored streets) pass both ABS Census tenure tests (owner-occupiers >65% and public housing ≤5%) plus at least one—or both—of the Oakleigh South rent and yield benchmarks.
- Mid / Mixed Street Profile (Score 50–74): 21 streets pass the core owner-occupier and public-housing thresholds but sit below the suburb median on weekly rent or yield.
- Weaker / Caution Street Profile (Score 0–25): 39 streets fail one or both census tenure thresholds—meaning either owner-occupation sits at or below 65% or state/community public housing exceeds 5% on those specific SA1 blocks.
Top 5 Highest-Scoring Streets in Oakleigh South (VIC)
These streets sit in SA1 census blocks with high homeowner pride of ownership, minimal social housing concentration, and strong block-level rents (inspect all 151 streets in Oakleigh South):
| Top Street in Oakleigh South | Street Score | Addresses | Owner-Occupiers | Public Housing | SA1 Rent & Yield |
|---|---|---|---|---|---|
| #1 Monterey Court | 100/100 | 20 | 96% | 0% | $750/wk (3.4%) |
| #2 Mccormick Court | 100/100 | 17 | 96% | 0% | $750/wk (3.4%) |
| #3 Kelrinda Close | 100/100 | 15 | 87% | 0% | $1400/wk (5.8%) |
| #4 Ripley Street | 100/100 | 21 | 86% | 1.4% | $1181/wk (4.8%) |
| #5 Cascade Street | 100/100 | 9 | 86% | 1.6% | $1144/wk (4.7%) |
Streets Where Block-Level Tenure Trails the Oakleigh South Average
By contrast, the streets below run through SA1 census blocks that fail one or more of our tenure or rental tests. A lower Street Score is not a judgement of any individual house, but it highlights where higher renter turnover or public housing concentration exists within Oakleigh South:
| Caution Street Sample | Street Score | Addresses | Owner-Occupiers | Public Housing | SA1 Median Rent |
|---|---|---|---|---|---|
| Clarendon Avenue | 0/100 | 50 | 51% | 15.2% | — |
| Old Eastern Court | 0/100 | 16 | 51% | 15.2% | — |
| Eric Court | 0/100 | 12 | 51% | 15.2% | — |
3. Economic & Supply Drivers in Monash Council (Victoria)
Oakleigh South sits within the Monash Local Government Area, which has a residential population of approximately 211,833 (+8.8% population movement over the past 3 years) and 70,623 total dwellings. Three council-level fundamentals shape Oakleigh South’s medium-term outlook:
- Local Employment Diversity (ABS Census): The largest employment sectors across Monash are Health Care and Social Assistance (14%), Education and Training (13%), Manufacturing (10%), Retail Trade (10%). Multi-sector employment reduces reliance on any single employer or commodity cycle.
- New Building Approvals vs. Existing Stock: Over the latest 12-month financial year, Monash approved 1.7% new dwelling stock (~1,247.61 dwellings). Because annual additions sit under 1.8% of stock, incoming supply is constrained relative to tenant and buyer demand.
- Tracked Infrastructure Pipeline: Monash currently has $54.5 billion in tracked major infrastructure projects (placing it in the 99th percentile of Australian councils).
4. Worked Cashflow, Deposit & 80% LVR Stress-Test for Oakleigh South (October 2026)
What does it actually cost to acquire and hold a typical house in Oakleigh South at today’s median price of $1,230,000 and median rent of $700/wk? Below is the baseline 80% Loan-to-Value Ratio (LVR) model we use to stress-test serviceability before shortlisting a property:
| Cashflow & Capital Item | Oakleigh South Worked Figure | Assumptions & Notes |
|---|---|---|
| Purchase Price (Suburb Median) | $1,230,000 | Settled house median as of October 2026 |
| 20% Deposit + Est. Stamp Duty & Costs | $305,040 | $246,000 deposit (80% LVR) + ~$59,040 stamp duty, legal & inspection allowance (can be funded via usable home equity) |
| 80% LVR Loan Amount | $984,000 | Standard no-LMI investor loan threshold |
| Gross Annual Rental Income | $36,400/yr ($700/wk) | 3% gross rental yield before vacancies and expenses |
| Est. Annual Interest + Operating Costs | $75,030/yr | Assumes 6.25% interest-only ($61,500/yr) + ~1.1% for council rates, insurance & property management ($13,530/yr) |
| Pre-Tax Weekly Cashflow Position | -$743/wk top-up | Before tax deductions / depreciation (confirm post-tax position with your accountant) |
5. Who Should Buy in Oakleigh South—And 3 Rules Before You Make an Offer
High Land Scarcity and Deep Homeowner Wealth, But Cashflow-Intensive. Based on our October 2026 data, Oakleigh South is best suited to higher-income professionals, medical practitioners, and upgraders with strong cashflow buffers targeting scarce land in an owner-occupier dominated suburb.
- Never Buy Blind on the Suburb Median: In Oakleigh South, 39 streets score below 50/100 on our census tenure and yield tests. Always run the exact street through the Oakleigh South Street Score Hub and target the 73 streets scoring 75–100/100.
- Check Lot-Level Overlays (Flood, Bushfire, Slope & Easements): Even on a 100/100 streetlike Monterey Court, individual lots can carry overland flow paths, steep gradients, or sewer easements that restrict granny-flat additions or spike insurance premiums.
- Price Against Street-Matched Settled Comparables: Do not let a selling agent justify an asking price on a 25/100 street using comparable sales from a 100/100 street. Compare settled sales within the same SA1 Street Score band.
If there's a specific street you're weighing up right now, check its Street Score first — it's free, takes ten seconds, and tells you whether that street is pulling the suburb average up or riding on it.
Market data & R-Scores for locations in this article
Drill Down Into the Markets Mentioned Above
Inspect live monthly R-Scores, median prices, rental yields, and street-by-street scores for the cities and council areas referenced in this article:
Frequently asked questions
Is Oakleigh South (VIC 3166) a good suburb for property investment in 2026?
As of October 2026, Oakleigh South (VIC 3166) scores 95/100 on the 27-indicator Ripehouse R-Score (ranked #829 of 15,286 Australian suburbs). It is classified as a Affluent Owner-Occupier Upgrader Market with a median house price of $1,230,000, median rent of $700/wk (3% gross yield), and vacancy rate of 2.9%.
How have house prices and rents performed in Oakleigh South over the past 1 to 3 years?
Over the past 12 months, Oakleigh South’s median house price moved +0.6% to $1,230,000, and +11% over the past 36 months. Median weekly asking rents moved +4.5% over the past year to $700/wk (3% gross yield).
What are the highest and lowest scoring streets in Oakleigh South, VIC?
Across 151 streets (5,903 addresses) in Oakleigh South, 73 streets score 75 to 100 on the Ripehouse Street Score, led by Monterey Court (100/100, 96% owner-occupied), Mccormick Court (100/100, 96% owner-occupied), Kelrinda Close (100/100, 87% owner-occupied). Meanwhile, 39 streets score below 50 due to lower owner-occupation or public housing concentration above 5%.
How much deposit and weekly cashflow is needed to buy a median house in Oakleigh South?
At Oakleigh South’s median house price of $1,230,000, an 80% LVR purchase ($984,000 loan) requires approximately $305,040 in cash or usable home equity ($246,000 deposit plus around $59,040 for stamp duty and acquisition costs). At $700/wk rent and a 6.25% interest-only benchmark, estimated pre-tax cashflow is -$743/wk before tax deductions.
What is the housing supply pipeline and economic profile of Monash Council?
Oakleigh South is located in the Monash (VIC) Local Government Area (population around 211,833, +8.8% 3yr growth). Annual building approvals sit at 1.7% of existing dwelling stock. Tracked major infrastructure spend is $54.5B. Top employment sectors are Health Care and Social Assistance (14%), Education and Training (13%), Manufacturing (10%).
General information only. It does not take your objectives, financial situation or needs into account, and nothing here is legal, financial, taxation or investment advice specific to your circumstances.