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.
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