Get a property report and suburb profile for any property in Elsternwick

Elsternwick sits in Melbourne’s inner south-east and feels like a village centre tucked among leafy residential streets. The suburb mixes Victorian and Edwardian cottages, character terraces and low-rise apartments clustered around the Glen Huntly Road retail strip and Elsternwick railway station on the Sandringham line. Cafes, independent retailers and family-run restaurants give the centre a neighbourhood feel, while nearby parks, sporting grounds and easy access to Port Phillip Bay provide outdoor options. Its walkability and transport links attract a broad mix of residents from young professionals and families to people downsizing.

With 10,887 residents and a median age of 38, Elsternwick is a suburb of families dominated by couple households; most homes are owner-occupied (60.4%) though nearly 40% are rented. Significant public-space and planning work is under way, including a major park conversion to the Yalukit Willam Nature Reserve, flood-management works for Elster Creek, and changes to local planning controls and active-transport ideas for the village. Whether that mix suits you depends on what you want from a suburb.

Houses in Elsternwick sit at about 17.4 times a typical local annual household income at the last Census, which places house buying well above what households locally earned at that Census. Units at a median of $680,000 work out to about 5.9 times a typical local annual household income at the last Census, which is somewhat above local incomes.

On the renting side, a house rent of $950 a week would take roughly 43% of a typical local household's weekly income at the last Census, a large share, while a unit rent of $590 a week would take about 27%, a moderate share. If you're renting rather than buying, the rent share is the figure that matters for most people.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The clearest pattern in Elsternwick over the past 12 months is that houses moved more strongly than units. Median house values rose 10.2% over the year, a strong increase, while median unit values rose 7.4%, a solid gain. On the rental side, house rents climbed 8.8% (a solid rise) and unit rents increased 2.6% (a modest rise).

If you are weighing Elsternwick as an investment, the value changes show the capital growth over the year and the rent changes show recent movement in rental income. Both the capital and rental movements for houses outpaced the unit side this year, so houses have been the stronger performer on these measures. Whether that balance fits your goals and circumstances is for you to judge.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.