Investment property in Elsternwick has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 20.80%
Comparing Elsternwick,3185 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
In the last year 96 properties changed hands in Elsternwick, which puts it as the 278th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Elsternwick being $1945000 and the advertised rent reaching $700 the gross rental yield for property investors calculates out to be 1.87%
Elsternwick, 3185 ranked 50th in VIC when comparing growth in median property values or capital gain over the last 12 months. Elsternwick is one of 2098 in our list for VIC
If we look at median property appreciation over just the last three months, Elsternwick has given property investors a paper return of 1.08%. This puts Suburb as 232 on a list of fastest fasting appreciating suburbs in VIC
Renters in Suburb are facing rents around $5100 per annum or $425 every week.
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