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Elphinstone, VIC 3448

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Elphinstone, VIC 3448 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Elphinstone, VIC 3448”

  1. The total adult population (15 years or older) of Elphinstone 3448 VIC is 541, with a median age of 50. Of those, 45.84% are married, 19.04% are divorced or separated, 30.68% are single and 3.88% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $7,032. The median monthly mortgage repayment for households in this suburb is $1,594 which is 22.67% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in Victoria, the suburb of Elphinstone 3448, hosts an estimated total of 362 households. An intricate look into its property market by Q3 of 2023 provides an interesting overview.

    The typical price for houses in the area sits at $858,944, while the median weekly rent happens to be $450. From these values, Elphinstone generates an indicative yield of approximately 2.72%. Despite falling below the healthy 3% mark desired by cash-flow centred property investors, it’s crucial to note that yields alone don’t present the full picture of a market’s profitability.

    In terms of the socio-economic score (IRSAD), Elphinstone records a respectable score of 993 out of 1217. This suggests a good socio-economic status, indicating a population with access to a relatively high level of economic resources.

    When it comes to ownership, the suburb has a significantly low renter to owner ratio of just 5%. Suburbs with high ratios of homeowners are generally more desirable to prospective property purchasers as they tend to create more stable and community-focused neighbourhoods.

    In Elphinstone, houses unequivocally dominate the property market, with a units to houses ratio of 0%. Market watchers often see such characteristics as favourable, as the absence of units reduces rental competition, thereby preserving higher yields and attracting long-term tenants, typically families.

    However, the affordability index in Elphinstone is relatively high – sitting at 48 years, which undermines the overall appeal. It suggests that for most residents, the journey to full homeownership would take longer than the standard 30-year mortgage timeline.

    Delving into supply metrics, houses in Elphinstone have a stock on market Percentage of 0.83% and an inventory level standing at about 7.2 months, both suggesting a relatively balanced market.

    No new buildings have been approved recently, as indicated by the stark building approvals Ratio of 0%. On the demand side, houses in Elphinstone spend an average of 181 days on the market. While this leans towards a buyers’ market, the vacancy rate is maintained at 3.0%, reflecting a relatively balanced demand.

    Elphinstone’s buy search index for houses tops the scale at 7, highlighting a strong interest among potential buyers.

    Given these statistical insights, Elphinstone’s property market presents a complex blend of indicators. Despite some variables falling outside the favourable range, such as a slightly lower yield and high Affordability Index, the majority of indicators suggest a stable and appealing market. As always, property investors are advised to consider diverse metrics and trends, ensuring a comprehensive understanding of the performance and potential of a property market.

    Finally, it’s worth mentioning that all the above insights can be bundled into the RCS (Relative Composite Score) metric by HtAG Analytics. The RCS simplifies the analysis by delivering an at-a-glance, relative market rating derived from a full sweep of significant property market metrics.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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