Oakvale is the hometown of the hero in Fable and Fable: The Lost Chapters, that was destroyed by bandits while your hero was a child. The game's story begins with your hero as a child before Oakvale is destroyed. The town has a few features such as farm fields, various peasant homes, and a barn. At the beginning of Fable you explore the town and accomplish a few minor quests to set up the story before the bandits attack. When the town is attacked its citizens are killed, and the bandits burn everything to the ground.
In Fable II, Oakvale had been destroyed between Fable and Fable II. A majority of the area was sunk underwater and the only recognizable feature is the path that goes up towards the wooden bridge, which ws the only thing not destroyed. The Cullis Gate has disappeared and the Hero's house has also disappeared, replaced with a small ledge leading to the water. A new door has been added in the field there Theresa was during the Hero's childhood that leads to The Shadow Court. In The Archaeologist Quest, Belle Reynolds gives a clue to an ancient scroll leading to the same area as Oakvale, although Belle almost mistook it as Oakfield, an area in the far north of Fable II Albion.