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Elsternwick

POSTAL CODE: VIC, 3185
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Property investors enjoyed capital gains of 8.64% over the last 12 months in ELSTERNWICK, translating to lower returns compared with its peers in VIC.

Figures from the previous quarter show that capital gains for real estate buyers in ELSTERNWICK are high, as opposed to average gains per annum over the past five years.

This number can mean, real estate investors could earn a rental income of $870 based on current median home prices for the suburb.

On average, rents on listings have reached the $870 mark, reflecting a 2.13% increase in returns based on the current median price in ELSTERNWICK.

ELSTERNWICK, 3185 ranks 141st in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 566th on the list of best yielding suburbs for rental properties in VIC, posting a 2.13% return.

Surburb overview

Elsternwick is an inner-south-eastern suburb of Melbourne located within the City of Glen Eira. The suburb is situated approximately 9 kilometres south-east of the Melbourne central business district and is bordered by Ripponlea, Gardenvale, Caulfield South and St Kilda East.

Elsternwick recorded a population of around 10,000 residents at the 2021 census, reflecting its compact size and established inner-suburban character. The demographic profile includes a mix of families, professionals, older residents and younger households, with a median age close to the metropolitan average. Rental households form a significant proportion of the population, alongside long-term owner-occupiers in established housing.

Housing in Elsternwick consists of a mix of detached period homes, townhouses and a substantial number of low- and mid-rise apartment buildings. Residential density is higher near transport corridors and activity centres, while quieter streets retain a leafy, traditional suburban form.

Public transport access is a defining feature, with Elsternwick railway station located on the Sandringham line. The station provides frequent train services to the Melbourne CBD and bayside suburbs. 

Multiple tram routes operate along Glen Huntly Road and nearby arterial roads, offering additional connectivity across inner Melbourne. Road access is supported by Glen Huntly Road, Nepean Highway and St Kilda Road, though congestion can occur during peak periods.

Glen Huntly Road forms the suburb’s primary retail and service strip, containing supermarkets, cafés, restaurants, medical clinics and professional services. The shopping precinct also supports local employment and serves surrounding suburbs.

Educational facilities in and around Elsternwick include several primary schools and proximity to secondary schools and tertiary institutions across the inner south-east. Elsternwick has a well-established Jewish community, reflected in the presence of synagogues, community facilities and specialist food retailers.

Recreational amenities include proximity to Elsternwick Park, which provides large open spaces, sporting fields, wetlands and walking paths. The park is a significant recreational asset for organised sport and informal outdoor activity. Additional neighbourhood parks and tree-lined streets support everyday recreation and walking.

Employment among residents spans professional services, education, health care, retail and hospitality, with many commuting to nearby inner-city employment hubs. Elsternwick’s character is shaped by its strong public transport access, active shopping strip and mix of established housing and community infrastructure within Melbourne’s inner south-east.

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