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Elphinstone, VIC 3448
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$945,000
list-price estimate
Median Unit
$620,000
Gross Yield (houses)
3.5%
1yr Growth
-
Investment snapshot for Elphinstone
Elphinstone has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Elphinstone market and investor summary
In Elphinstone, VIC 3448, houses show a gross rental yield of 3.5%.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 3.5% will not cover holding costs in the early years, so the case leans on price appreciation. Houses also take time to sell, around 208 days on market, so plan for a slower exit if you ever need one.
Living in Elphinstone: people, income and schools
Elphinstone is home to around 633 people, and the area has been growing steadily, up about 8% over five years. The median age is 50, an older, established demographic, and 95% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
Households here earn a median of about $75,000 a year, or roughly $1,450 a week. On socio-economic measures it ranks comfortably above the national middle (7 out of 10 on the ABS advantage index). Incomes have risen about 39% over five years, which tends to underpin what local buyers can pay.
There is 1 school within about 5km, testing a little above the national school average on ICSEA. Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 633
- +8% over 5yr
- Median age
- 50 years
- Median household income
- $75,000/yr
- Households renting
- 5%
- Family households
- 72%
- Socio-economic rank
- 7/10
- ABS advantage index
- Schools within 5km
- 1
- avg ICSEA 1083
- Unemployment
- 2.8%
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Elphinstone
View all →Frequently asked questions about Elphinstone
What should I check before investing in Elphinstone?
Elphinstone has enough public data for first-pass screening across yield, vacancy, price and supply signals. Use the available metrics below to compare it with nearby suburbs before relying on the suburb-level view.
What are typical property prices in Elphinstone?
The median property price in Elphinstone, VIC 3448 is $620K for units.
What rental yield does Elphinstone show?
The gross rental yield in Elphinstone is 3.5% for houses and 2.8% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
How many people live in Elphinstone?
Elphinstone has a population of approximately 633 residents, with a median age of 50.
What schools are near Elphinstone?
There are 1 school within roughly 5km of Elphinstone. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Elphinstone's population growing?
The population of Elphinstone has grown about 8% over the past five years, an above-average pace. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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