Mount Eliza has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 8.23% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Mount Eliza comes in at number 367th in VIC.
Property buyers and investors in Mount Eliza 3930 should be seeing an average reduction in asking price of around -5.83% . This means that Mount Eliza is holding prices well when compared to other suburbs in VIC.
Mount Eliza is in the bottom 30% in VIC when comparing median price capital growth over the last year. Mount Eliza gave property investors a disappointing capital gain figure when compared to the rest of the state, with -1.95%.
Mount Eliza,3930 has offered an average of -1.95% return per annum in house price rises to property investors over the last three years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Mount Eliza, 3930. Typically our figures indicate that -6.01% is being offered, which puts this VIC suburb at 481th most discounted overall in Australia.
Often selling an investment property can take time, and in Mount Eliza the average time real estate has been on the market is 60.23 days.
Using the current median advertised rental of $325 and the average annual increase in value of a median property of 4.70%, investors should hope to achieve an overall return of 3.63%
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.