StratMap.
SUBURB · VICTORIA · 3184

Elwood

Located in City of Port Phillip, Bayside Inner Melbourne. 8km from CBD. Elwood, VIC 3184, is a picturesque bayside suburb located approximately 8 kilometres south of Melbourne's CBD. Known for its charming art deco apartments and leafy streets, Elwood offers a blend of urban convenience and relaxed beachside li
Apartment market figures Upper price range ($800K+) Established house market HtAG refresh: Jun 2026

What the data shows here

What the data shows for Elwood.

Apartment thesis
Elwood sits in the bayside / inner-Melbourne corridor where the play is units, not houses. Median unit price is $821K vs $2.08M for houses, and unit yield runs at 3.96% gross versus 3.08% for houses. The apartment market has the lower entry price in the data.

Headline numbers: units lead

Apartment buyers focus on the left card.

UNITSFOCUS
Buy (median)$821K
Rent (median/wk)$626
Gross yield3.96%
ConfidenceHigh
Annual sales498
Yield range by BR2%-11%
HOUSESCONTEXT
Buy (median)$2.08M
Rent (median/wk)$1232
Gross yield3.08%
ConfidenceHigh
Annual sales123
Yield range by BR2%-10%

HtAG RCS scores

Four "Relative Composite Score" axes from HtAG Analytics (0-100, higher is better).

Units

RCS (overall)
70
strong
Risk RCS (0 to 100)
79
Capital Growth RCS
74
Cashflow RCS
58

Houses

RCS (overall)
37
weak
Risk RCS (0 to 100)
35
Capital Growth RCS
17
Cashflow RCS
59

By bedroom count

Buy / rent / yield breakdown across bedroom types. From HtAG Analytics median data.

Units

BedroomsMedian buyMedian rent (wk)Gross yield
1BR$442K$4555.35%
2BR$740K$6154.32%
3BR$1.28M$8103.29%
All units$821K$6263.96%

Houses

BedroomsMedian buyMedian rent (wk)Gross yield
2BR$1.48M$8502.99%
3BR$1.93M$11733.16%
4BR$2.84M$16743.07%
All houses$2.08M$12323.08%

Supply & demand

Market dynamics from HtAG: stock on market, vacancy, days on market, clearance rate.

Houses

Days on Market (houses)
70
median time to sell
Vacancy Rate (houses)
1.53%
tighter = stronger demand
Clearance Rate
50.0%
auction-cleared share
Stock on Market (houses)
0.29%
share for sale
Inventory (houses)
1.92 mo
under 3mo = tight
Hold Period (houses)
11.22 yrs
avg owner tenure

Units

Days on Market (units)
27
median time to sell
Vacancy Rate (units)
1.53%
tighter = stronger demand
Inventory (units)
1.56 mo
under 3mo = tight
Hold Period (units)
10.23 yrs
avg owner tenure

Parent LGA: City of Port Phillip

Elwood sits in City of Port Phillip, which is not covered by our enterprise-level LGA data, so the figures below come from HtAG suburb data.

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