Giving property investors a a solid capital gain of 23.71% for the last year, Mount Eliza, 3930 is the 226th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mount Eliza has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -4.65% to buyers in Mount Eliza at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 31.67 sales per month, which equates to 380 per year.
Using the current median advertised rental of $620 and the average annual increase in value of a median property of 7.46%, investors should hope to achieve an overall return of 3.00%
With a capital gain of 18.86% for the last 12 months, Mount Eliza, 3930 has performed for property investments than its average annual 6.31% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Mount Eliza,3930 has racked up an average of 18.86% over the period. This ranks it number 750th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Mount Eliza is $520000, with sellers offering an average of -3.57% off the asking price.
In the last year 47 properties changed hands in Mount Eliza, which puts it as the 192th most active market in VIC when comparing the number of sales per suburb.
A $345 per week rent on the median house gives suburb investors a gross yield of circa 3.45%, without taking into account capital value appreciation, which has been averaging out at 6.31%.
Mt Eliza is a prestige coastal suburb, located south of Melbourne, next door to Mornington.
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The suburb boasts luxurious homes and successful owners, including Hugh Jackman and Paul Mercurio. You are unlikely to find massive bargains here, with the large homes attracting prices starting at $800,000 and going well into the millions.
Streets close to the beach and with bay views are the most popular, with many featuring tennis courts and pools.
The suburb's centre consists mostly of small cafes and boutique shops, with organic grocers and a couple of travel agents.
Nearby Frankston is where you would go for public transport, including a comprehensive bus service and direct train line to the Melbourne CBD.Full summary
Selling points: Mt Eliza is a prestigious suburb, sought after by successful people looking for luxurious homes and larger land sites, views, etc. Prices range from $800,000 up to $8 million. Well-known business identities and famous people have made Mt Eliza home, including Hugh Jackman and Paul Mercurio, who are regularly seen in the Mt Eliza Village.
Most sought after properties: Homes close to the beach or with views are in high demand.
Most common properties: Large homes on large blocks, featuring pools and tennis courts.
Top amenities: Mt Eliza is characterised by a quaint village atmosphere with numerous cafes, restaurants, organic grocers and clothing boutiques. It is bordered by Port Phillip Bay and pristine beaches, yacht clubs and Life Saving associations.
Local industry and business: Mt Eliza has no major industry and has a very small shopping precinct with cafes and restaurants dominating the strip, plus a few clothes shops, travel agents and two small supermarkets.
Recent changes: Mt Eliza has largely remained untouched for the last 20 years. There is little room for expansion in the shopping area and no available land, so apart from some refurbishment of shop fronts and the occasional knock-down and rebuild of residential homes the area has changed very little.
Best streets: The best areas are close to the beach and properties that have bay views.
Public transport: Mt Eliza only has a bus service into Frankston each 1.5 hours or so, but Frankston has the train from the CBD direct to Melbourne and also a very comprehensive bus service to most parts of suburban Melbourne.
Main arteries: Mt Eliza is a five minute drive on the Nepean Hwy into Frankston and the Freeway system; or you can continue on the Nepean Hwy into Melbourne City or bay side suburbs.