With a capital gain of 10.23% for the last 12 months, Eltham, 3095 has performed for property investments than its average annual 6.71% property growth over the last 5 years.
Over the longer term, Eltham has seen property prices show investors a 34.39% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Eltham is offering property investors an average of -5.87. This rate of discount on properties puts Suburb at number 406th in terms of most discounted suburbs in VIC
Advertised rents are around the $480 mark per week – giving a return of 2.97% based on the median price in Suburb
Giving property investors a an average capital gain of 1.20% for the last year, Eltham, 3095 is the 989th highest performer in Australia in this respect.
Comparing Eltham,3095 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Eltham should be aiming for at least -3.22% off the asking price, which is the average vendor discount being achieved at the moment.
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.