VIC has seen average median house prices change by 11.00% which means that Eltham, 3095 has done well for property investors by showing a capital gain of 13.52% over the last year
While Eltham,3095 ranked number 279th in VIC for increase in median house value (annualised) increase, it is ranked 265th over the last 5 years.
Vendor discounting in Eltham is giving property investors an average Vendor Discount of around -3.29%. This puts suburb at number 518th in VIC when ranking the most discounted suburbs.
At number 437 in a list of fastest selling suburbs, Eltham is in the TOP 20% of suburbs in Australia with an average of days on market 41.36 for properties listed there.
A $495 per week rent on the median house gives suburb investors a gross yield of circa 2.91%, without taking into account capital value appreciation, which has been averaging out at 7.09%.
Eltham has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 12.69% to date .
While Eltham,3095 ranked number 60th in VIC for increase in median house value (annualised) increase, it is ranked 37th over the last 5 years.
At number 219th of VIC’s most discounted properties, Eltham is in the TOP 30% of the state/territory when listing in order of most discounted to least.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 7.00%, investors should hope to achieve an overall return of 3.37%
An affluent suburb located 20km to the north-east of the Melbourne CBD, Eltham is populated mostly by families, who live in large, three and four-bedroom homes on substantial blocks.
Information supplied by:
Buckingham and Company Estate Agents
(03) 9431 1496
0411 428 668
The 'green wedge suburb', which provides corners of untouched nature and plenty of tree-lined streets, also plays host to a famous artist colony, a major shopping complex and both public and private schooling.
Eltham has enjoyed significant median growth in recent years and its best properties can be found in the south end of town. The suburb is experiencing somewhat of an awakening from its sleepy past, with high density housing and heavier traffic beginning to filter in.Full summary
Selling points: Located just 20km north-east from the Melbourne CBD, Eltham provides a leafy suburban feel without losing touch with city living. Eltham is one of the 'green wedge' areas that provide relatively undeveloped, accessible environments within the Melbourne suburban region. These green wedge areas are under constant pressure from developments such as road and freeway expansions, but Eltham has managed to retain many tree-lined streets and leafy reserves. The median sale price for houses in Eltham has increased by 34% since 2007, while units have enjoyed a 29% boost during the same period.
Most common and sought after properties: Eltham is an affluent residential suburb located in Melbourne’s outer north-east. Families mainly populate Eltham and the housing stock reflects larger households, generally comprised of three and four-bedroom dwellings. The suburb also has tracts of commercial land centred on the railway line.
Top amenities: Eltham features the Alistair Knox Park, the Montsalvat art estate and Eltham Terraces Shopping Centre. Both public and private school options exist, with all schools in the area rated highly compared to the rest of Victoria.
Local industry and business: Eltham is known for its tourist attractions, including the artists’ colony at Montsalvat and the Diamond Valley Railway, which is the largest rideable miniature railway in Australia.
Recent changes: The character of the suburb is changing rapidly, with increased road traffic and higher-density housing becoming more common.
Best streets: Lavender Park Road, Sweeney’s Lane and others in the southern end of town, where large properties on substantial blocks provide good lifestyle.
Public transport: A combination of public buses and centralised rail provides good service for the local area, as well as surrounding areas and the CBD.
Main arteries: Main Road takes motorists from the suburb centre all the way to Melbourne, where it links with the Eastern Freeway.