Elsternwick vs Elwood
Elsternwick (median $1,902,000) is roughly 17% cheaper to buy into than Elwood ($2,305,000).
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Elsternwick and Elwood side by side
| Measure | Elsternwick | Elwood |
|---|---|---|
| Price and market | ||
| Median house | $1,902,000 | $2,305,000 |
| Median unit | $683,500 | $620,000 |
| Renting | ||
| House rent | $900/wk | $1095/wk |
| Unit rent | $600/wk | $608/wk |
| Owner occupied | 59.0% | 47.0% |
| Renter occupied | 39.0% | 51.0% |
| Schools | ||
| Schools nearby | 20 | 20 |
| Average ICSEA | 1122 | 1117 |
| Lifestyle and people | ||
| Walk score | 100 | – |
| Transit score | 100 | – |
| Bike score | 100 | – |
| Population | 10,887 | 15,153 |
| Median age | 38 | 38 |
| Climate | ||
| Annual rainfall | 617 mm | 617 mm |
| Mean max, January | 26.4°C | 26.4°C |
Green dot: better on that measure (lower price, higher growth, higher walkability, lower risk). Each suburb’s profile gives the source and period of its figures.
Which suits whom
On school quality, the average ICSEA across schools serving Elsternwick (1122) sits above Elwood (1117). Elsternwick skews owner-occupied (59%), Elwood runs more rental-dense (47% owner).
- For buyers
- Elsternwick is the lower entry point at $1,902,000 median, 17% below the other suburb. For first home buyers, that translates to a smaller deposit and lower stamp duty bill.
- For investors
- Elwood offers the higher gross rental yield (2.47% vs 2.46%), favouring cash-flow investors.
- For families
- Elsternwick edges out on average school ICSEA (1122 vs 1117). Elsternwick also has a higher family-household share (61% vs 49%), so the catchment community skews family-heavy.
Elsternwick vs Elwood: common questions
Is Elsternwick or Elwood cheaper to buy in?
Elsternwick has the lower median house price at $1,902,000, roughly 17% below Elwood ($2,305,000). The gap on units is usually similar but worth checking on the full suburb profiles.
Does Elsternwick or Elwood have better schools?
On average school ICSEA (the ACARA index that benchmarks educational advantage), Elsternwick scores 1122 vs 1117 in Elwood. ICSEA is a school-community indicator, not a quality rating, so always check NAPLAN results and catchment boundaries for the specific address you're considering.
Which suburb has higher rental yield, Elsternwick or Elwood?
Gross rental yield on houses is 2.47% in Elwood vs 2.46% in Elsternwick. Gross yield equals annual rent divided by purchase price. Net yield (after strata, rates, insurance, agent fees and maintenance) typically runs 1.5-2 percentage points lower.
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