Suburb Profile Report for Elsternwick VIC (3185)

Elsternwick House: Median price $1,625,000, Annual capital growth 8.48%, Number of sales 83, Weekly median advertised rent $700

Elsternwick Unit: Median price $595,500, Annual capital growth 5.25%, Number of sales 92, Weekly median advertised rent $408

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Elsternwick, 3185 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 5.66%

Elsternwick,3185 was ranked 2143 in Australia by increase in median property value over the quarter.

Sellers are offering property buyers an average discount of 0.00% to buyers in Elsternwick at the moment, which is less than average for the rest of VIC.

A $700 per week rent on the median house gives suburb investors a gross yield of circa 2.24%, without taking into account capital value appreciation, which has been averaging out at 8.48%.

At number 492th in the list of Australian suburbs ordered by increase in median house value over the last year, Elsternwick, 3185 is in the top 30% with a property value increase of 8.17% recorded in median house prices.

Comparing Elsternwick,3185 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Our latest figures would indicate that property sellers in Elsternwick are currently offering property investors an average price cut of -5.13% below the asking price at the moment.

On average over the past year, suburb has had 7.67 sales per month, which equates to 92 per year.

Information supplied by:


March 2017

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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

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
Metrics i HOUSE UNIT
$1,625,000 $595,500
0.93% 0.08%
5.66% 8.17%
8.48% 5.25%
$700 $408
83 92
2.24% 3.56%
78.3 64

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Elsternwick VIC
Demographics
Total population 9774
Median household income ($/weekly) 1568
Median age of persons 37
Median housing loan repayment ($/monthly) 2167
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 1125 11.5
    25-34 years 1575 16.1
    35-44 years 1600 16.4
    45-54 years 1310 13.4
    55-64 years 1074 11.0
    Others 3090 31.6
    Age Group
    Census Count Percent(%)
    Registered Married 3215 46.1
    Not Married 3051 43.8
    Defacto Relationship 704 10.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 6216 68.7
    Indonesia 188 2.1
    Papua New Guinea 193 2.1
    United Kingdom 435 4.8
    Other 736 8.1
    Others 1274 14.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 167 1.9
    Christianity 3844 44.6
    Hinduism 161 1.9
    Judaism 1784 20.7
    No Religion 2574 29.9
    Others 86 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 257 7.5
    $1,000-$1,249 261 7.7
    $1,500-$1,999 389 11.4
    $2,000-$2,499 288 8.5
    $2,500-$2,999 452 13.3
    Others 1757 51.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3184 43.6
    Not in the labour force 2133 29.2
    Employed, worked part-time 1514 20.7
    Employed, away from work 267 3.7
    Unemployed, looking for work 212 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 885 17.8
    Professionals 1893 38.1
    Technicians & trades workers 368 7.4
    Clerical & administrative workers 683 13.8
    Sales 425 8.6
    Others 711 14.3
    Occupation
    Census Count Percent(%)
    Pre-school 226 10.0
    Infants/Primary 721 31.9
    Secondary 518 22.9
    Technical or Further Educational Institution 130 5.8
    University or other Tertiary Institutions 565 25.0
    Others 98 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5433 61.6
    Flat, unit or apartment 2364 26.8
    Semi-detached, row or terrace house, townhouse 976 11.1
    House or flat attached to a shop, office 40 0.5
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1288 35.1
    Fully owned 1253 34.2
    Being purchased 1108 30.2
    Other tenure type 16 0.4
    Tenure Type
Census 2011, ABS
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