Elsternwick is in the TOP 20% in VIC when comparing median price capital growth over the last year. Elsternwick gave property investors a very good capital gain figure when compared to the rest of the state, with 19.94%.
A 85.15% growth in median value for property investors in Elsternwick,3185 puts this suburb at number 220th in terms of best performing suburbs in VIC
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.20% offered to property buyers. Sellers in Elsternwick itself are offering an average vendor discount of -4.58% to real estate investors.
On average over the past year, suburb has had 7.75 sales per month, which equates to 93 per year.
Renters in Suburb are facing rents around $41548 per annum or $799 every week.
Property value increases in Elsternwick have tracked lower than the VIC average of 7.73% over the last 12 months.
A 30.52% growth in median value for property investors in Elsternwick,3185 puts this suburb at number 258th in terms of best performing suburbs in VIC
Property buyers and investors in Elsternwick 3185 should be seeing an average reduction in asking price of around -7.29% . This means that Elsternwick is holding prices well when compared to other suburbs in VIC.
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Information supplied by:
March 2017
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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
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.
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