Suburb Profile Report for Elsternwick VIC (3185)

Elsternwick House: Median price $1,920,000, Annual capital growth 9.00%, Number of sales 91, Weekly median advertised rent $795

Elsternwick Unit: Median price $640,000, Annual capital growth 4.82%, Number of sales 109, Weekly median advertised rent $430

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
  • House Report
  • Unit Report
  • Expert Report

VIC has seen average median house prices change by 4.75% which means that Elsternwick, 3185 has done well for property investors by showing a capital gain of -3.40% over the last year

Comparing Elsternwick,3185 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Residents and property investors in Elsternwick have been waiting around 42 days to sell a property.

The VIC suburb of Elsternwick, 3185 is in the Glen Eira (C) local government area.

Property investors who have had real estate in Elsternwick, 3185 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.39%

When looking at the potential capital gains offered to property investors over the last 3 years, Elsternwick comes in at number 179th in VIC.

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 Elsternwick, 3185. Typically our figures indicate that -11.16% is being offered, which puts this VIC suburb at 127th most discounted overall in Australia.

Often selling an investment property can take time, and in Elsternwick the average time real estate has been on the market is 77.5 days.

Renters in Suburb are facing rents around $22360 per annum or $430 every week.

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.
 

Close
Metrics i HOUSE UNIT
$1,920,000 $640,000
-5.54% -0.16%
-3.40% 1.39%
9.00% 4.82%
$795 $430
91 109
2.15% 3.49%
42 77.5

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 9774
Median household income ($/weekly) 1568
Median age of persons 37
Median housing loan repayment ($/monthly) 2167
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 1125 11.5
    25-34 years 1575 16.1
    35-44 years 1600 16.4
    45-54 years 1310 13.4
    55-64 years 1074 11.0
    Others 3090 31.6
    Age Group
    Census Count Percent(%)
    Registered Married 3215 46.1
    Not Married 3051 43.8
    Defacto Relationship 704 10.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 6216 68.7
    Indonesia 188 2.1
    Papua New Guinea 193 2.1
    United Kingdom 435 4.8
    Other 736 8.1
    Others 1274 14.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 167 1.9
    Christianity 3844 44.6
    Hinduism 161 1.9
    Judaism 1784 20.7
    No Religion 2574 29.9
    Others 86 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 257 7.5
    $1,000-$1,249 261 7.7
    $1,500-$1,999 389 11.4
    $2,000-$2,499 288 8.5
    $2,500-$2,999 452 13.3
    Others 1757 51.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3184 43.6
    Not in the labour force 2133 29.2
    Employed, worked part-time 1514 20.7
    Employed, away from work 267 3.7
    Unemployed, looking for work 212 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 885 17.8
    Professionals 1893 38.1
    Technicians & trades workers 368 7.4
    Clerical & administrative workers 683 13.8
    Sales 425 8.6
    Others 711 14.3
    Occupation
    Census Count Percent(%)
    Pre-school 226 10.0
    Infants/Primary 721 31.9
    Secondary 518 22.9
    Technical or Further Educational Institution 130 5.8
    University or other Tertiary Institutions 565 25.0
    Others 98 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5433 61.6
    Flat, unit or apartment 2364 26.8
    Semi-detached, row or terrace house, townhouse 976 11.1
    House or flat attached to a shop, office 40 0.5
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1288 35.1
    Fully owned 1253 34.2
    Being purchased 1108 30.2
    Other tenure type 16 0.4
    Tenure Type
Census 2011, ABS
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