Elwood is a well-established suburb in Victoria within the Port Phillip local government area (postcode 3184). With a population of 15,153, the suburb has an established demographic with a median age of 38. Households earn a median income of $109K per year, with an average household size of 1.9 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Elwood is $2.1 million, having declined 6.1% over the past year. Units have a median price of $655,000 (-2.7% YoY). The current median weekly rent is $520. This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $2,300.
Elwood is served by 4 schools, including 2 primary, 1 secondary, 1 combined. The average ICSEA score is 1123, which is well above the national average of 1,000. Public transport access includes 46 bus stops. The crime rate in the Port Phillip LGA is higher than average at 13,835 incidents per 100,000 population.
From an investment perspective, Elwood offers a gross rental yield of 1.3%, rated as low yield. Property prices are above the state median ($2.1M/$875K), placing it in the premium segment. The price-to-income ratio of 19.0x is considered stretched. House prices have moved -6.1% year-on-year.
Elwood is a well-established suburb in Victoria within the Port Phillip local government area (postcode 3184). With a population of 15,153, the suburb has an established demographic with a median age of 38. Households earn a median income of $109K per year, with an average household size of 1.9 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Elwood is $2.1 million, having declined 6.1% over the past year. Units have a median price of $655,000 (-2.7% YoY). The current median weekly rent is $520. This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $2,300.
Elwood is served by 4 schools, including 2 primary, 1 secondary, 1 combined. The average ICSEA score is 1123, which is well above the national average of 1,000. Public transport access includes 46 bus stops. The crime rate in the Port Phillip LGA is higher than average at 13,835 incidents per 100,000 population.
From an investment perspective, Elwood offers a gross rental yield of 1.3%, rated as low yield. Property prices are above the state median ($2.1M/$875K), placing it in the premium segment. The price-to-income ratio of 19.0x is considered stretched. House prices have moved -6.1% year-on-year.