Property prices 'skyrocket' in Oaklands Park

Potential homeowners in Australia could be tempted to compare a number of home loans in order to invest in a property in Oaklands Park after impressive prices rises in the last five years.

Figures published by the Guardian Messenger have revealed that house prices in the area have increased by almost 50 per cent since 2005.

Improvements to public transport as well as new sports and shopping facilities have been cited as the main reason for the large rise, which compares to a 33 per cent increase over the same time period in the wider Adelaide area.

Figures from the report show that the average Oakland Park home was worth $276,000 five years ago, while the average property boasted a price of $410,000 last year.

Robert Beagley, a real estate agent for Phil MacMahon, told the newspaper that houses in the area are still affordable, meaning "people are seeing the potential there’".

"It's going from strength to strength … it ticks all the boxes," he added.