Suburb Profile Report for Elsternwick VIC (3185)

Elsternwick House: Median price $1,535,000, Annual capital growth 8.92%, Number of sales 91, Weekly median advertised rent $650

Elsternwick Unit: Median price $540,000, Annual capital growth 4.70%, Number of sales 98, Weekly median advertised rent $395

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 472th in the list of Australian suburbs ordered by increase in median house value over the last year, Elsternwick, 3185 is in the top 20% with a property value increase of 16.29% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Elsternwick comes in at number 244th in VIC.

The VIC suburb of Elsternwick, 3185 is in the Glen Eira local government area.

Over the last year, property investments in Elsternwick, 3185 have given investors a capital gain of -5.10%. This compares very badly with the 3.56% for VIC as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Elsternwick has increased when compared to the 5 year average annual rate.

Elsternwick, 3185 is offering VIC ‘s 104th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.

Using the current median advertised rental of $395 and the average annual increase in value of a median property of 4.70%, investors should hope to achieve an overall return of 3.80%

Michael Yardney Information supplied by:

Michael Yardney
Metropole Property Strategists

M 9591 8888
O 0419 800 900

W http://www.metropole.com.au/
E myardney@metropole.com.au
Elsternwick is a situated 9 km south-east of Melbourne's CBD, in the local government area of the City of Glen Eira. At the 2011 Census Elsternwick had a population of 9,774.

Over the last year, property investments in Elsternwick, 3185 have given investors a capital gain of 6.50%. This compares very favourably with the 0.13% for VIC as a whole.

Across a shorter period, Elsternwick, 3185 has seen a median price increase of 5.31% over the last quarter.

At number 396th of VIC’s most discounted properties, Elsternwick is in the TOP 40% of the state/territory when listing in order of most discounted to least.

Situated 8.87km from the CBD, Elsternwick is one of Glen Eira localities in the postcode 3185.Full summary
Elsternwick is a situated 9 km south-east of Melbourne's CBD, in the local government area of the City of Glen Eira. At the 2011 Census Elsternwick had a population of 9,774.
 
Over the last year, property investments in Elsternwick, 3185 have given investors a capital gain of 6.50%. This compares very favourably with the 0.13% for VIC as a whole.
 
Across a shorter period, Elsternwick, 3185 has seen a median price increase of 5.31% over the last quarter.
 
At number 396th of VIC’s most discounted properties, Elsternwick is in the TOP 40% of the state/territory when listing in order of most discounted to least.
 
Situated 8.87km from the CBD, Elsternwick is one of Glen Eira localities in the postcode 3185.
 
Selling points: 
Elsternwick sits comfortably between Elwood, St Kilda East, Caulfield and Brighton East and has the best of all those worlds. With homes ranging from elegantly classic stately Manors, to ultra modern apartments and everything in between it is one of the most sought after tightly held suburbs in Melbourne. 
 
It offers the excellent Glenhuntly Road shopping precinct along with its very own independent Classic Cinema and is a short commute to both the Chadstone and Southland shopping centres and is positioned among a highly accredited school district. 
 
Most sought after properties: Elsternwick offers a variety of housing both affordable and high end which makes it’s the most diverse suburbs in Victoria of which some are on generous size allotments.  There is a high demand for property in general ranging from period homes to newly developed family homes and apartment living, with little supply and high demand for elegant and contemporary family homes.  
 
Most common properties:  There is a wide range of dwellings elegantly classic stately Manors, established period homes, ultra modern apartments and everything in between.
 
Top amenities: With its prominent flat terrain, councils sports ground management have improved infrastructure with the immediate area.  Other attractions include Elsternwick golf course, Sportscover Arena, Caulfield Racecourse Reserve just to name a few.
 
Local industry and business: There is a good mixture of retail and other small business trade within the demographic and surrounding suburbs. 
 
Recent changes: There are a number of new medium rise apartment developments along Glenhuntly Road. 
 
Best streets: Regent Street, Hoddle Street, Trevelyan Street, Downshire Road, St George’s Rd and Sherbrooke Avenue just to name a few. 
 
Public transport: Buses, 2 train stations and trams along Nepean Hwy and Glen Huntley Road provide easy access to C.B.D.
 
Main arteries: Nepean Hwy, Kooyong Road, Orrong Road and Glen Eira Road

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HOUSE UNIT
$1,535,000 $540,000
2.33% -0.92%
16.29% -5.10%
8.92% 4.70%
$650 $395
91 98
2.20% 3.80%
85.43 73.72

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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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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