If you compare the increase in value of investment property in Eltham, 3095 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 13.59%.
A 42.81% growth in median value for property investors in Eltham,3095 puts this suburb at number 485th in terms of best performing suburbs in VIC
Property buyers and investors in Eltham 3095 should be seeing an average reduction in asking price of around -3.74% . This means that Eltham is holding prices well when compared to other suburbs in VIC.
Using the current median advertised rental of $522.5 and the average annual increase in value of a median property of 6.22%, investors should hope to achieve an overall return of 2.45%
Eltham, 3095 ranked 108th in VIC when comparing growth in median property values or capital gain over the last 12 months. Eltham is one of 2099 in our list for VIC
Over the longer term, Eltham has seen property prices show investors a 18.18% return over the last 3 years. This is worse than over the last 12 months
Property investors looking for a bargain in Eltham should be aiming for at least -3.78% off the asking price, which is the average vendor discount being achieved at the moment.
Eltham, 3095’s gross rental yield is 2.93%
Information supplied by:
Buckingham and Company Estate Agents
(03) 9431 1496
0411 428 668
Selling points: Located just 20km north-east from the Melbourne CBD, Eltham provides a leafy suburban feel without losing touch with city living. Eltham is one of the 'green wedge' areas that provide relatively undeveloped, accessible environments within the Melbourne suburban region. These green wedge areas are under constant pressure from developments such as road and freeway expansions, but Eltham has managed to retain many tree-lined streets and leafy reserves. The median sale price for houses in Eltham has increased by 34% since 2007, while units have enjoyed a 29% boost during the same period.
Most common and sought after properties: Eltham is an affluent residential suburb located in Melbourne’s outer north-east. Families mainly populate Eltham and the housing stock reflects larger households, generally comprised of three and four-bedroom dwellings. The suburb also has tracts of commercial land centred on the railway line.
Top amenities: Eltham features the Alistair Knox Park, the Montsalvat art estate and Eltham Terraces Shopping Centre. Both public and private school options exist, with all schools in the area rated highly compared to the rest of Victoria.
Local industry and business: Eltham is known for its tourist attractions, including the artists’ colony at Montsalvat and the Diamond Valley Railway, which is the largest rideable miniature railway in Australia.
Recent changes: The character of the suburb is changing rapidly, with increased road traffic and higher-density housing becoming more common.
Best streets: Lavender Park Road, Sweeney’s Lane and others in the southern end of town, where large properties on substantial blocks provide good lifestyle.
Public transport: A combination of public buses and centralised rail provides good service for the local area, as well as surrounding areas and the CBD.
Main arteries: Main Road takes motorists from the suburb centre all the way to Melbourne, where it links with the Eastern Freeway.