Oak Park Property Market Overview (2026)
Oak Park sits in the affordable outer-suburban market. This is value territory. Prices are lower than inner Melbourne because the suburb is still developing its amenity base, but growth corridors tend to appreciate as infrastructure catches up.
Price Estimates
| Property Type | Estimated Median | Monthly Mortgage (est.)* |
|---|---|---|
| House | $550K–$850K | $2,200–$3,400 |
| Unit/Apartment | $350K–$500K | $2,000–$3,000 |
Estimates based on Oak Park’s market positioning. Mortgage estimates assume 20% deposit, 6.5% variable rate, 30-year term. For current sales data, check REIV or Domain.
What Drives Property Value in Oak Park
Property prices in any suburb reflect three things: what is already there, what is coming, and how easy it is to get to the CBD. Here is how Oak Park stacks up:
| Amenity Factor | Oak Park | Impact on Value |
|---|---|---|
| Schools | 3 | Moderate |
| Parks | 12 | High — green space is a premium driver |
| Dining & Cafes | 2 | Developing |
| Medical | 2 | Gap |
| Supermarkets | 0 | None — drives value down |
| Gyms & Fitness | 1 | Some options |
Total amenity score: 24. Growing infrastructure — early buyers may benefit from appreciation as the suburb develops.
Schools (Key Value Driver)
Oak Park has 3 schools — school zone boundaries are one of the strongest price drivers in Melbourne property:
| School | Address |
|---|---|
| Strathmore North Primary School | 70 Mascoma Street |
| St Francis de Sales Primary School | 626 Pascoe Vale Road |
| Oak Park Primary School | 23-33 Willett Avenue |
Check zone boundaries at findmyschool.vic.gov.au.
Rental Market
| Unit Type | Weekly Rent (est.) |
|---|---|
| 1 Bedroom | $260–$360 |
| 2 Bedroom | $350–$450 |
| 3 Bedroom | $450–$600 |
Rental yield estimate: 4.5–5.5% (higher yields in more affordable suburbs).
See our detailed Cost of Living Guide for full cost breakdown.
Before You Buy in Oak Park
- Check school zones — findmyschool.vic.gov.au determines your designated school
- Review planning overlays — heritage, flood, bushfire at your local council
- Check flood risk — planning.vic.gov.au
- Attend auctions — quoted ranges in Oak Park are guides, not guarantees
- Get a building inspection — non-negotiable for any house purchase
- Talk to locals — knock on a neighbour’s door. They will tell you what agents won’t
Key Links for Oak Park Property Research
- Domain — current listings and recent sales
- realestate.com.au — price history and suburb profiles
- REIV — quarterly median prices (the official data)
- ABS Census — population and demographic data
Related Guides
- Best Restaurants in Oak Park
- Best Cafes in Oak Park
- Best Bars in Oak Park
- Cost of Living in Oak Park
- Oak Park Neighbourhood Guide
- Family Guide to Oak Park
- Is Oak Park Safe?
- Oak Park Transport Guide
Last updated: March 2026. This guide is refreshed when OpenStreetMap data changes — new openings, closures and corrections are reflected automatically. Found something wrong? Let us know.
Sources
- OpenStreetMap Contributors — openstreetmap.org — accessed March 2026
- ABS Census 2021 — abs.gov.au/census
- REIV Quarterly Median Prices — reiv.com.au
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