Over the last year, property investments in Elsternwick, 3185 have given investors a capital gain of 16.50%. This compares favourably with the 10.43% for VIC as a whole.
A 57.43% growth in median value for property investors in Elsternwick,3185 puts this suburb at number 579th in terms of best performing suburbs in VIC
Sellers are offering property buyers an average discount of -1.51% to buyers in Elsternwick at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 8.67 sales per month, which equates to 104 per year.
With the median price for a house in Elsternwick being $1747500 and the advertised rent reaching $700 the gross rental yield for property investors calculates out to be 2.08%
If you compare the increase in value of investment property in Elsternwick, 3185 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 20.64%.
Over the longer term, Elsternwick has seen property prices show investors a 19.68% return over the last 3 years. This is an improvement over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Elsternwick is offering property investors an average of -4.87. This rate of discount on properties puts Suburb at number 49th in terms of most discounted suburbs in VIC
Residents and property investors in Elsternwick have been waiting around 51.42 days to sell a property.
Elsternwick, 3185’s gross rental yield is 3.24%
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