Chelsea vs Oak Park
Property investment comparison - Chelsea, VIC 3196 vs Oak Park, VIC 3046
Head-to-head across core investment metrics: Chelsea wins 3, Oak Park wins 2. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Chelsea | Oak Park |
|---|---|---|
| Median house price | $1.1M | $1.1M |
| Median unit price | $745K | $665K |
| Gross rental yield (houses) | 3.25% | - |
| Gross rental yield (units) | 4.02% | 4.35% |
| 1-year house growth | +8.1%estimate | -4.3% |
| 3-year house growth | - | +4.2% |
| Vacancy rate | 1.3% | 1.5% |
| Population | 8,347 | 6,714 |
Chelsea vs Oak Park: what the numbers say
The median house price is $1.1M in Chelsea and $1.1M in Oak Park, so Chelsea is the cheaper entry point, with Oak Park houses about 1% dearer.
For units, Chelsea sits at a median of $745K against $665K in Oak Park, which makes Oak Park the more affordable unit market and Chelsea the pricier one.
Over the past year house prices moved +8.1% in Chelsea (an estimate) and -4.3% in Oak Park, so recent momentum favours Chelsea, while Oak Park went backwards.
Rental vacancy is 1.3% in Chelsea and 1.5% in Oak Park, so landlords in Chelsea face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Chelsea is the bigger suburb, with a population of 8,347 against 6,714, larger than Oak Park; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Chelsea for a lower purchase price, Chelsea for recent price momentum, Chelsea for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
Compare any 2-4 Australian suburbs
Build your own multi-suburb comparison with the full interactive tool.
Open interactive comparison