Eltham vs St Helena
Property investment comparison - Eltham, VIC 3095 vs St Helena, VIC 3088
Head-to-head across core investment metrics: Eltham wins 4, St Helena wins 2. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Eltham | St Helena |
|---|---|---|
| Median house price | $1.3M | $1.3M |
| Median unit price | $820K | $895K |
| Gross rental yield (houses) | - | 3.15% |
| Gross rental yield (units) | 4.20% | 2.99% |
| 1-year house growth | +3.6% | -1.1% |
| 3-year house growth | +7.8% | +9.7% |
| Vacancy rate | 0.6% | 1.3% |
| Population | 18,847 | 2,890 |
Eltham vs St Helena: what the numbers say
The median house price is $1.3M in Eltham and $1.3M in St Helena, so St Helena is the cheaper entry point.
For units, Eltham sits at a median of $820K against $895K in St Helena, which makes Eltham the more affordable unit market and St Helena the pricier one.
Over the past year house prices moved +3.6% in Eltham and -1.1% in St Helena, so recent momentum favours Eltham, while St Helena went backwards.
Looking back three years, Eltham houses are +7.8% and St Helena houses +9.7%, so St Helena has compounded faster than Eltham over the longer window.
Rental vacancy is 0.6% in Eltham and 1.3% in St Helena, so landlords in Eltham face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Eltham is the bigger suburb, with a population of 18,847 against 2,890, roughly 7 times the size of St Helena; a larger suburb usually means a deeper pool of buyers and tenants.
In short: St Helena for a lower purchase price, Eltham for recent price momentum, Eltham for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
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