Overview             

Elwood is an inner bayside suburb in Melbourne. Its name is surmised to have come from the Quaker historian and poet, Thomas Elwood.

Originally a working middle class suburb in the early part of the 20th century, Elwood has overseen waves of gentrification and is now one of Melbourne's most sought after bayside addresses.

Large period houses, many from the 1920s and 30s with art deco touches, along with proximity to beach and foreshore have made the area very attractive.

Demographics      The table below outlines some quick statistics from the 2006 Census about Elwood;

Dwelling Characteristics

In the 2006 Census there were 7,235 occupied private dwellings counted in Elwood: 18.3% were separate houses, 13.0% were semi-detached, row or terrace houses, townhouses etc, 68.5% were flats, units or apartments and 0.1% were other dwellings.

Elwood features an eclectic blend of period style architecture and modern beachfront monoliths. Its beautiful, tree lined streets are a stunning backdrop for chic, upmarket homes and the area’s mix of art deco and new sleek apartments are popular with young Gen Y tenants.

In Elwood, 16.8% of occupied private dwellings were fully owned, 21.1% were being purchased and 46.3% were rented.

Median House Prices   

Property prices (based on sales reported to Australian Property Monitors) for houses and units over a 12 month period to June 2008.

Why should I invest there?
Elwood has outperformed the general property market in Melbourne with strong capital growth and rising rentals. And it is likley to do so for the foreseeable future.
It is a popular suburb for owner occupiers and tenants and with minimal vacanices in the area is likely to produce sound investment returns.
Avoid main roads and look for solid apartments in tree lined streets - these make great investments. Especially those with internal renovation potential.


Location & Landmarks

Elwood is bounded to one side by the Melbourne’s stunning Beach Road, which features beautiful large homes and magnificent bayside views. Elwood Beach is a popular destination for locals and visitors all year round, but can be crowded in the summer with hundreds of people in various stages of undress!

Trendy Elwood Village is on Ormond Road and is a favored haunt for “Elwoodites” with its many boutique shops, restaurants and cafes.

Local schools include the secondary campus Elwood College and Elwood Primary.