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Elwood, VIC 3184

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 Elwood, VIC 3184 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.

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 “Elwood, VIC 3184”

  1. The total adult population (15 years or older) of Elwood 3184 VIC is 13,172, with a median age of 38. Of those, 29.25% are married, 13.10% are divorced or separated, 55.28% are single and 2.35% are widowed.

    The average household size is 1.9 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 $2,300 which is 17.91% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in VIC, the charming suburb of Elwood, postcode 3184, is home to an estimated 8,457 households. As we move into Q3 of 2023, the typical property prices for houses in this locale stand at a substantial $2,436,949, with a median weekly rent of $1,004. This results in an indicative yield of 2.14%, presenting an essential metric for cashflow-focused property investors to dissect.

    Gauging the area’s socio-economic status, Elwood boasts an IRSAD score of 1,117 out of 1,217, indicating a predominantly wealthy population with high socioeconomic resources, likely translating into high-earning professionals living in the area. Exploring property type distribution, we see a significant lean towards units with a renter to owner ratio and units to houses ratio of 51% and 73% respectively. Considering our established preferences for the lower proportions of rentals and units, these measurements move the dial towards saturation in the rental market, increasing competition amongst investors and landlords, potentially yielding lower returns in the longer term.

    Property affordability in Elwood is an area of concern with an affordability index standing at 74 years. This figure suggests that prospective buyers would require an estimated 74 years to fully own a property in this area, indicating lower affordability compared to other markets.

    Yet, the supply indicators paint a more favourable picture with a stock on market Percentage for houses at a minimal 0.16%, indicating the suburb’s low supply. This condition, paired with an inventory level for houses resting at a promisingly low 0.44 months, suggests a tight market potentially offering competitive returns for investors. Furthermore, the building approvals Ratio for houses is 0.32%, presenting no significant threat of property oversupply in the future.

    Demand metrics also show an enticing facet of the Elwood property market. The current days on market for houses are 23, alluding to high demand in the area. Additionally, the vacancy rate (combining houses and units) rests at a balanced 1.52%, suggesting healthy market activity and a relatively equal match between supply and demand. However, the buy search index for houses positioned at 3 indicates a moderate level of demand.

    Drawing together these varied elements, the property market in Elwood presents a complex portrait with elements of both appeal and caution. The intricacies of analysing market data serve to emphasise the importance of comprehensive scrutiny. Remember, a holistic approach that utilises a host of metrics such as the Relative Composite Score (RCS) is pivotal in making accurate and actionable investment decisions.

    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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