Oak Park (3046) sits 11 kilometres north of Melbourne's CBD inside the City of Merri-bek, with direct Craigieburn Line access at Oak Park Station. Its SEIFA IRSAD score of 994 places it just below the national mean of 1000, landing in decile 6 of 10 nationally and at the 52nd percentile within Victoria. That reading marks the suburb as solidly mid-band: neither a high-disadvantage postcode nor a high-advantage one. Investors should treat that positioning as a starting point for analysis, not a conclusion.
ABS 2021 IRSAD release. Score 994 (national mean = 1000).
A SEIFA IRSAD score of 994 tells PropertyRanker that Oak Park sits in broadly average socioeconomic territory at the postcode level. In the model's twelve-signal framework, this reading feeds directly into three criteria: economic_strength, hazard_risk, and entry_point_risk. On economic_strength, a score this close to the national mean suggests a workforce and income base that is neither under significant structural stress nor carrying the premium that pushes yields below viable thresholds in higher-decile suburbs. On entry_point_risk, the mid-band reading is consistent with a suburb that has seen genuine price growth over the past decade without the extreme compression seen in decile 9 and 10 postcodes closer to the CBD. On hazard_risk, mid-SEIFA areas tend to carry moderate rather than elevated socioeconomic vulnerability, though SEIFA cannot substitute for a flood overlay or bushfire risk check on a specific lot.
The suburb's housing stock is predominantly post-war brick and weatherboard dwellings on established blocks, with a growing layer of infill townhouses and units, particularly east of Pascoe Vale Road. That internal variation matters: a freestanding house on a larger western block and a two-bedroom unit in a newer eastern complex sit inside the same SEIFA frame but carry very different yield, depreciation, and liquidity profiles. Gross yields on houses have been reported below 3 percent at recent price points, which aligns more closely with PropertyRanker's Capital Growth strategy anchor of around 3.5 percent than with Balanced (around 5 percent) or High Yield (around 6 percent) targets. Units may offer a tighter yield gap but introduce body corporate and oversupply considerations that postcode-level data cannot resolve.
According to CoreLogic data published by yourinvestmentpropertymag.com.au (as of mid-2026), Oak Park VIC 3046 recorded a median house price of $1,131,000 with annual capital growth of 7.20% over the past 12 months, on 83 house sales, with houses averaging 37 days on market. The Valuer-General Victoria reported a contrasting figure of $1,170,000 for the June quarter 2025, down 4.9% year-on-year, reflecting different measurement periods and methodologies. PropRadar tracked an average vendor discount of -0.7% versus the high asking price across 201 sales over the past 24 months, suggesting vendors are holding close to asking price.
With days on market stable at 37 (CoreLogic) and vendor discounts minimal at -0.7% (PropRadar), but vacancy direction not retrievable from available sources, the market reads as steady with a slight lean toward vendors holding firm.
Sources: Oak Park, VIC 3046: Suburb Profile & Property Report | YIP (2026-08-13); Oak Park VIC 3046 | Compact Northern Suburb 11km from Melbourne CBD (2025-09-01); Recently Sold Properties in Oak Park, VIC 3046 - PropRadar (2026-08-12); Oak Park, VIC 3046 Property Market and House Prices 2026 (2026-06-15) · Refreshed 26 Aug 2026
PropertyRanker scores any Australian property against 12 criteria across three pillars: Growth, Cashflow, and Risk. SEIFA is a primary signal for economic strength and a supporting one for entry-price risk. It also informs the crime side of hazard risk, though physical overlays like flood, bushfire and coastal exposure, and recorded crime data where available, take priority there. The decile of 6 shown above gives a listing in Oak Park a stronger starting line on economic strength than the national median postcode, and a softer one on entry-price risk, since more advantaged postcodes usually carry higher entry prices.
On top of that, PropertyRanker chooses one of four strategies (Balanced, Growth, Yield, Regional) and applies a per-strategy yield anchor. The anchors are 3.5% for Growth, 5% for Balanced, 6% for Yield, and 7% for Regional. A postcode at this level of relative advantage tends to suit the Growth (3.5% anchor) and Balanced (5% anchor) strategies more readily than Yield (6%) or Regional (7%), because a higher entry price compresses the gross yield a listing can reach without a specific value-add.
Read the scoring guide for the full criteria list and how the verdict thresholds work.
SEIFA is a postcode-level read. The fastest sanity check on any single decile reading is to compare it against the suburbs that surround it.
A SEIFA decile 6 reading does not make Oak Park a buy or a pass. A specific listing can score well or poorly inside the same postcode frame depending on factors the macro signal cannot see. Before acting, investors should check: current SQM vacancy rate for 3046 to assess rental demand conditions; flood and planning overlay status for the specific lot, given the Moonee Ponds Creek corridor runs along the suburb's western boundary; body corporate health and sinking fund balance for any strata title; and pricing against recent comparable sales to confirm whether the asking price reflects genuine market value or a vendor premium. The internal zoning split between larger residential lots west of Pascoe Vale Road and higher-density areas to the east also warrants title and planning permit research. Run the specific listing through PropertyRanker to receive a verdict that accounts for all twelve scoring criteria, including the signals that a postcode-level SEIFA reading cannot reach.
Oak Park's SEIFA IRSAD score of 994 places it at the 52nd percentile within Victoria and just below the national mean of 1000, marking it as a solidly mid-band suburb. PropertyRanker reads that positioning as evidence of a workforce and income base under neither significant structural stress nor the premium compression that suppresses yields in decile 9 and 10 postcodes. That makes Oak Park a suburb worth analysing rather than one to dismiss or to treat as a sure thing; the SEIFA score is a starting signal, not a verdict.
The data pattern in Oak Park points most closely toward the Capital Growth strategy, which anchors around a 3.5 percent gross yield. House yields at recent price points have been reported below 3 percent, which sits well short of the Balanced (around 5 percent) or High Yield (around 6 percent) thresholds. Units east of Pascoe Vale Road may narrow that gap somewhat, but body corporate costs and potential oversupply considerations need to be weighed against any yield improvement; score the specific listing on PropertyRanker for a live figure.
Three risks stand out for this suburb. First, entry point risk is real: the mid-SEIFA reading is consistent with genuine price growth over the past decade, so overpaying on a listing is a meaningful concern that investors should check against PropertyRanker's entry_point_risk signal. Second, flood and stormwater exposure matters; the City of Merri-bek has a documented history of riverine and flash flooding, and the council provides a lot-level stormwater mapping tool that investors should consult for any specific address. Third, the internal variation between a freestanding house on a western block and a newer unit carries very different depreciation, liquidity, and body corporate profiles that postcode-level data alone cannot resolve.
Oak Park Station is a confirmed stop on Metro Trains' Craigieburn Line, with services running through to Flinders Street, and the journey to the CBD takes roughly 20 to 28 minutes. PropertyRanker treats infrastructure connectivity as a qualitative input that interacts with its economic_strength and entry_point_risk signals rather than as a standalone score. Direct rail access at this distance from the CBD is a factor consistent with sustained tenant demand, but it does not override the yield and price checks that determine which strategy a listing suits.
PropertyRanker feeds Oak Park's SEIFA IRSAD score of 994 into three of its twelve scoring criteria: economic_strength, hazard_risk, and entry_point_risk. The model does not substitute for lot-level checks, so investors should independently verify flood overlay status using Merri-bek Council's stormwater mapping tool, confirm the specific property type (house versus unit) given the suburb's mixed housing stock, and check current vacancy and yield figures by scoring the individual listing. SEIFA is a postcode-level frame; the twelve-signal score on a specific address will always carry more weight than the suburb-level reading alone.
Paste a real address. Get a defensible verdict across 12 criteria in around three minutes.
Score a property free