Elsternwick is a settled mid-to-large suburb in Victoria within the Glen Eira local government area (postcode 3185). The area has roughly 10,887 residents and an established family demographic, with a median age of 38. Households earn a median income of $115K per year, with an average household size of 2.3 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.6% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward professional services and healthcare. The top ancestries reported are English, Australian, Irish.
The median house price in Elsternwick is $2.0 million, having fallen sharply by 12.8% over the past year. Units have a median price of $562,000 (-21.4% YoY). The current median weekly rent is $600. This gives a gross rental yield of approximately 1.6%. The median monthly mortgage repayment is $2,400.
Elsternwick is served by 4 schools, including 2 primary, 2 combined. The average ICSEA score is 1097, which is above the national average of 1,000. Public transport access includes 9 rail stations, 52 bus stops. Healthcare facilities include 2 private hospitals. The crime rate in the Glen Eira LGA is moderate at 4,737 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 1.6% (low yield). Property prices are above the state median ($2.0M/$875K), placing it in the premium segment. The price-to-income ratio of 17.0x is considered stretched. House prices have moved -12.8% year-on-year. Population growth of +1.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.