Investment property in Elsternwick has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 15.73%
Taking the average capital gain, or increase in median house value, Elsternwick,3185 has racked up an average of 15.73% over the period. This ranks it number 1230th in the whole country for real estate investors looking at median house price increases.
Elsternwick3185 is located in VIC which offers an average discount of -5.26% to property investors. Elsternwick itself is showing figures that indicate -1.46% is the average achievable by property buyers investing in the suburb.
The VIC suburb of Elsternwick, 3185 is in the Glen Eira local government area.
Elsternwick has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 23.29% to date .
Elsternwick,3185 was ranked 516 in Australia by increase in median property value over the quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.68% offered to property buyers. Sellers in Elsternwick itself are offering an average vendor discount of -7.36% to real estate investors.
Renters in Suburb are facing rents around $5040 per annum or $420 every week.
In the southeast part of Melbourne’s CBD lies Elsternwick, known for its lively entertainment scene. Cafes and restaurants line Glen Huntly Road, and this convenience could be a good reason why this suburb has consistently been popular with buyers.Full summary
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Entertainment hub attracts a buying crowd
Median unit price: $595,000
Three-year growth: 15.53%
Rental yield: 3.50%
In the southeast part of Melbourne’s CBD lies Elsternwick, known for its lively entertainment scene.
Cafes and restaurants line Glen Huntly Road, and this convenience could be a good reason why this suburb has consistently been popular with buyers. Elsternwick has not stumbled in recent years, with an average annual growth rate of 5.4%. The average vacancy rate fell to 1.7% in the past year, highlighting the demand in this area. Even though the returns gained by investors are not very significant, they are certainly steady.
Elsternwick is also highly accessible, being bordered by the Nepean Highway. Melbourne can be reached in less than 30 minutes by driving along Orrong Road and Princes Highway, and trams run daily to and from the capital. The Elsternwick railway station has also been established on Riddell Parade.Close