All About Elsternwick, Glen Eira, VIC, 3185

Elsternwick, located in the City of Glen Eira, VIC, is a vibrant suburb known for its dynamic housing market, which reflects both its desirability and unique charm. The area offers a mix of architectural styles, from classic Victorian and Edwardian homes to modern apartments and townhouses, catering to diverse preferences and budgets. In recent years, Elsternwick's housing market has seen significant interest from both buyers and investors, driven by its excellent amenities, proximity to Melbourne's CBD, and vibrant local culture. The scarcity of available properties, combined with increasing demand, has led to competitive pricing, making it a focal point for those looking to invest in a thriving suburban environment. The suburb’s train and tram connectivity further enhances its accessibility, appealing to professionals and families seeking a convenient urban lifestyle with suburban benefits.

Living in Elsternwick offers residents a unique blend of cosmopolitan living and neighborhood charm. The suburb boasts a lively cultural scene, with an array of cafes, restaurants, and boutique shops, particularly along Glen Huntly Road, which serves as a social hub for the community. Its rich cultural diversity is reflected in its culinary offerings, providing a global palate of dining experiences. Residents enjoy access to numerous parks and recreational facilities, promoting an active and outdoor lifestyle. The community is known for its friendly atmosphere, creating a welcoming environment for families, young professionals, and retirees alike. Additionally, excellent educational institutions and healthcare facilities contribute to a high standard of living. Overall, Elsternwick provides a desirable mix of modern conveniences and leisurely suburban life, making it a sought-after location in Melbourne’s southeastern suburbs.

Elsternwick Real Estate Market Outlook

Thinking about buying in Elsternwick? Now could not be a better time, with 7199 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $2,057,000 with prices in this suburb ranging from $288,000 to $20,362,000. Elsternwick is located fairly close to the coast at just 1Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. High average incomes in Elsternwick ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Elsternwick classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. Lower than average population density constrains growth in Elsternwick to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

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Public Transport

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General Points of Interest

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