In regards to housing in Ormeau, between 2003-2008, there was significant growth in the area, growth then levelled out for a couple of years before coming backwards between 2010-2013. Median house prices in Ormeau,
2003 - $306,000 2008 - $460,000 2013 - $416,000
Hope this helps, we are predicting steady/good growth again in the area for the next 5-8 years.
I think Ormeau's growth will be helped by the fact that in the last 8 years it has had a lot of good development happen from an amenities and convenience perspective. Back in 2008, Norfolk Shopping centre and a couple of taverns plus a few shops were all there was to it. In the last 3-4 years we've had a new shopping centre open, four new sports grounds (I think), restaurants, and a new shopping development on the other side of the highway near Jacob's ridge. So, to name the majors, we now have Coles, Woolworths, MacDonalds, KFC, Zaraffas, BWS, Liquorland, IGA. And two very good taverns.