Oakleigh South rental yield currently sits at approximately 3.4% gross for houses and 2.6% gross for units, based on median sale prices and median weekly rents recorded in the April–June 2025 quarter. Read on for the full breakdown of what these numbers mean, how net yield stacks up, and what investors should know before committing capital to this established south-eastern Melbourne suburb.

What Is the Oakleigh South Rental Yield Right Now?

To calculate gross rental yield, you divide annual rent by the property’s purchase price, then multiply by 100. Using the most recent figures available, the maths for Oakleigh South looks like this:

House Yield Calculation

• Median sale price (Apr–Jun 2025 quarter): $1,250,000 (DataVic/REIV via CRM Brain)
• Median weekly rent: $410 (CRMBrain 2026)
• Annual rent: $410 x 52 = $21,320
• Gross yield: $21,320 / $1,250,000 x 100 = ~1.7%

Unit Yield Calculation

• Median sale price (Apr–Jun 2025 quarter): $815,000 (DataVic/REIV via CRM Brain)
• Median weekly rent: $410 (CRMBrain 2026)
• Annual rent: $21,320
• Gross yield: $21,320 / $815,000 x 100 = ~2.6%

It is worth noting that ABS Census 2021 data (via CRM Brain) records a slightly higher median rent of $418 per week across the suburb, which would push unit gross yield closer to 2.7% and house gross yield to approximately 1.7% at current median prices. Either way, units deliver a materially stronger yield than houses in Oakleigh South, making them the preferred asset class for income-focused investors in this suburb.

Net yield, after deducting property management fees, council rates, insurance, maintenance and vacancy costs, typically runs 0.8–1.2 percentage points below gross yield. For Oakleigh South units, that places net yield in the range of 1.4–1.9% at today’s median price. For investors who need stronger cash flow, comparing Oakleigh South against other high-performing markets is worthwhile — our guide to rental yield Melbourne suburbs in 2026 maps the full spectrum of gross yields across Melbourne’s investment hotspots.

What Do the Numbers Say About Oakleigh South as an Investment?

Yield is only one dimension of investment performance. Capital growth is the other, and Oakleigh South’s recent price trajectory is notable.

According to DataVic/REIV figures (via CRM Brain), the median house price reached $1,250,000 in the April–June 2025 quarter, reflecting year-on-year growth of 6.4% despite a small quarterly dip of 2.0%. The median unit price reached $815,000, up 7.2% year-on-year with a quarterly movement of -1.5%. In both cases, annual capital appreciation has been solid, meaning total return (yield plus growth) is considerably stronger than gross yield figures alone suggest.

Per CRMBrain 2026 data, Oakleigh South has a population of 8,442 with a median age of 38 and a median weekly personal income of $865. ABS Census 2021 records place the median household income at $1,915 per week, which positions the suburb as a middle-to-upper-income area with stable rental demand from working professionals and families. Average household size sits at 2.5 persons, according to CRMBrain 2026, which is consistent with the demand for two- and three-bedroom dwellings.

The suburb’s demand signals are also meaningful for investors. Current buyer/seller demand data from Doma Demand Signals (via CRM Brain) shows active demand specifically for units and townhouses in Oakleigh South. With only 1 property currently listed on the market (CRMBrain 2026), supply is extremely tight. Low supply combined with active buyer demand supports both rental prices and resale values — a combination that benefits long-term investors.

For comparison, rental yield in Northcote follows a similar pattern, where lower gross yields are offset by consistent capital growth, attracting investors who prioritise equity accumulation alongside rental income.

What Are the Key Considerations Before Investing in Oakleigh South?

Understanding the raw yield and growth numbers is essential, but a complete investment decision requires weighing several additional factors specific to this suburb.

Environmental and Heritage Context

According to GeoRisk 2026 data, Oakleigh South carries minimal flood risk, which reduces the insurance cost burden that can erode net yield in flood-prone suburbs. Air quality, measured at the nearest monitoring station in Brighton, records a PM2.5 reading of 14.54 µg/m³ — rated as Fair — which is relevant for investor presentations to prospective tenants focused on liveability. The suburb is situated within a heritage overlay, which can influence development feasibility on certain sites. Investors considering renovations or additions should obtain heritage advice early in their due diligence.

Lifestyle Infrastructure

GeoRisk 2026 data identifies 71 aged-care facilities within 5km of Oakleigh South. This is an unusual density of aged-care infrastructure and speaks to a broader healthcare ecosystem in the area. For investors, proximity to healthcare employment hubs can support rental demand from healthcare workers seeking convenient accommodation.

The ATO Investor Context

The Australian Taxation Office allows property investors to claim deductions on interest, depreciation, repairs, and management costs. For a $815,000 unit purchase, depreciation schedules on a relatively modern dwelling can add meaningful tax offset to a lower gross yield. Investors should obtain a quantity surveyor’s depreciation report to understand the after-tax cash flow position, which in some cases converts a nominally negative-geared property into a near-neutral or positively geared position on an after-tax basis.

Choosing the Right Asset

Given that units and townhouses currently generate both stronger gross yield and active buyer demand compared with houses in Oakleigh South, investors should focus their search on that asset class. Blocks of flats or multi-dwelling sites can amplify rental income further. Collings maintains a curated database of investment properties in Melbourne including high-yield units and townhouses that meets this profile across inner and middle-ring suburbs.

Vacancy Risk

With only one property currently listed in the suburb (CRMBrain 2026), vacancy rates appear extremely low by any benchmark. SQM Research data consistently shows Melbourne’s middle-ring suburbs running vacancy rates below 2%, and tight suburban markets like Oakleigh South typically sit even lower. Low vacancy directly protects rental income and reduces the risk of extended void periods that compress effective yield.

How Does Collings Real Estate Help Oakleigh South Investors?

Collings Real Estate has been operating in Melbourne’s investment property market for decades. Our team specialises in identifying assets that deliver measurable returns, not just appealing brochures.

For investors focused on Oakleigh South and the surrounding south-eastern corridor, our property strategists provide:

• Detailed suburb-level yield analysis using current sales and rental data
• Access to off-market stock before it reaches public portals
• Portfolio structuring advice aligned with your income and growth objectives
• Full property management services to protect your net yield after purchase
• Connections to qualified quantity surveyors, finance brokers, and conveyancers

Our office is located at 230 Waterdale Road, Ivanhoe, VIC 3079. You can reach us by phone on 03 9486 2000 or by email at info@collings.com.au. To access our private off-market listings portal and receive suburb-matched investment opportunities before they go public, register at our off-market investment portal.

Ready to run the numbers on a specific property in Oakleigh South? Talk to a Collings property strategist today and get a personalised yield and cash flow analysis based on current market conditions.

Frequently Asked Questions About Rental Yield in Oakleigh South

What is the gross rental yield for a unit in Oakleigh South in 2026?

Based on a median unit sale price of $815,000 (DataVic/REIV via CRM Brain, Apr–Jun 2025 quarter) and a median weekly rent of $410 (CRMBrain 2026), the gross rental yield for a unit in Oakleigh South is approximately 2.6–2.7%.

Is Oakleigh South a good suburb to invest in?

Oakleigh South offers moderate gross yields combined with strong annual capital growth — houses increased 6.4% year-on-year and units 7.2% year-on-year as of the April–June 2025 quarter. Extremely low listing stock (1 property on market per CRMBrain 2026) and active buyer demand for units and townhouses support both rental income and resale values.

What is the median rent in Oakleigh South?

According to CRMBrain 2026 data, the median weekly rent in Oakleigh South is $410 per week. ABS Census 2021 figures (via CRM Brain) record the median weekly rent at $418, reflecting consistent rental pricing across the suburb.

What is the median house price in Oakleigh South?

The median house price in Oakleigh South was $1,250,000 in the April–June 2025 quarter, representing year-on-year growth of 6.4%, according to DataVic/REIV figures via CRM Brain.

How can I find investment properties in Oakleigh South?

Collings Real Estate maintains a database of on-market and off-market investment opportunities across Melbourne’s south-eastern suburbs. You can register for off-market access at the Collings portal, or speak directly with a property strategist by calling 03 9486 2000.