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Elsternwick, VIC 3185

Home » VIC Real Estate Data » Glen Eira City, VIC » Elsternwick, VIC 3185

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 Elsternwick, VIC 3185 located in Melbourne 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.

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Yield 

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Buy 

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Rent 

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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 “Elsternwick, VIC 3185”

  1. The total adult population (15 years or older) of Elsternwick 3185 VIC is 9,038, with a median age of 38. Of those, 41.93% are married, 10.18% are divorced or separated, 43.34% are single and 4.53% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $12,840. The median monthly mortgage repayment for households in this suburb is $2,400 which is 18.69% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Elsternwick, bearing the postcode 3185, lies within Victoria, and it’s estimated to host a total of 5878 households. As of Q3 2023, the typical prices for houses in Elsternwick 3185 are $1,847,651, with a median weekly rent of $925. This translates to an indicative yield of 2.6%.

    Elsternwick demonstrates a strong socio-economic index, scoring an impressive 1121 out of 1217 on the IRSAD scale. This indicates households in Elsternwick tend to have high income levels and access to economic resources. The area benefits from a balance of occupants, with a renter to owner ratio resting at a moderate 39%, attracting a diverse range of residents to the area.

    However, the units to houses ratio is sitting a little higher than the desired range at 54%, hinting at an oversupply of rental properties, and potentially more competition among landlords looking for tenants. The affordability index is also stretched, with it taking an estimated 56 years to fully own a property, should all other conditions remain equal. This reflects the higher property prices and lending rates in Elsternwick.

    In terms of supply, Elsternwick presents favourable conditions with a relatively low stock on market Percentage of 0.25%, indicating that the market isn’t oversaturated with properties for sale. This couples with a palatable inventory level of 0.92 months, showing that it doesn’t take long for the property market to absorb new listings.

    Building Approvals Ratio comes in at a satisfyingly low level of 0.21%, suggesting a controlled growth in the supply of new dwellings. Speaking of demand, houses in Elsternwick 3185 rarely stay on the market for more than a month with an average of 24 days before being snapped up – a testament to the area’s high demand.

    Holding steady at 1.68%, the vacancy rate indicates a healthy balance of vacancy and occupancy, translating to a steady demand for rental properties. Finally, the buy search index is at 4 which is within the neutral range, maintaining the level of demand in the area.

    While the data points to some factors that could be improved upon, the majority of the metrics position Elsternwick as an attractive prospect for potential property investors and buyers. As always, to make informed investment decisions, one needs to have a thorough understanding of the real estate market data. Use of tools such as the RCS (Relative Composite Score) provided by HtAG Analytics can simplify this process by informing decisions with a comprehensive set of over 80 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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