With a capital gain of 12.76% for the last 12 months, Elsternwick, 3185 has performed for property investments than its average annual 8.20% property growth over the last 5 years.
Over the longer term, Elsternwick has seen property prices show investors a 30.26% return over the last 3 years. This is worse than over the last 12 months
Elsternwick3185 is located in VIC which offers an average discount of -5.80% to property investors. Elsternwick itself is showing figures that indicate 0.00% is the average achievable by property buyers investing in the suburb.
At number 1759 in a list of fastest selling suburbs, Elsternwick is just in the top half of suburbs in Australia with an average of days on market 76.22 for properties listed there.
Elsternwick, 3185’s gross rental yield is 2.06%
At number 175th 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 17.20% recorded in median house prices.
If we look at median property appreciation over just the last three months, Elsternwick has given property investors a paper return of 8.08%. This puts Suburb as 34 on a list of fastest fasting appreciating suburbs in VIC
The most recent median price for Elsternwick is $638750, with sellers offering an average of -4.59% off the asking price.
With the median price for a house in Elsternwick being $638750 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 3.42%
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