Elsternwick has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -6.51% to date .
Elsternwick,3185 has offered an average of -6.51% return per annum in house price rises to property investors over the last three years.
Renters in Suburb are facing rents around $40560 per annum or $780 every week.
Elsternwick has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -4.62% to date .
Comparing Elsternwick,3185 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Elsternwick 3185 should be seeing an average reduction in asking price of around -4.14% . This means that Elsternwick is holding prices well when compared to other suburbs in VIC.
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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.