If you compare the increase in value of investment property in Eltham, 3095 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 13.25%.
The five-year average increase in median property values for Eltham,3095 has given property investors a potential capital gain of 23.81% across each of those five years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Eltham, 3095. Typically our figures indicate that -4.85% is being offered, which puts this VIC suburb at 2625th most discounted overall in Australia.
Residents and property investors in Eltham have been waiting around 46.39 days to sell a property.
Eltham is 436th on a list of best yielding suburbs for rents in VIC with a 3.00% return
Investment property in Eltham has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 4.36%
Taking the average capital gain, or increase in median house value, Eltham,3095 has racked up an average of 4.36% over the period. This ranks it number 455th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -4.59% to buyers in Eltham at the moment, which is less than average for the rest of VIC.
A $385 per week rent on the median house gives suburb investors a gross yield of circa 3.64%, without taking into account capital value appreciation, which has been averaging out at 6.58%.
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.