Elwood is one of Melbourne’s most tightly held bayside suburbs — 8km from the CBD with Elwood Beach, Ormond Esplanade canal homes and a quiet village atmosphere that commands consistent premium pricing. The suburb attracts downsizers, families and professionals seeking beachside lifestyle without the St Kilda transient energy.
Elwood Market Snapshot 2026
| Metric | Houses | Units |
|---|---|---|
| Median Price | $2.35M | $720k |
| Rental Yield | 2.4% | 4.1% |
| Annual Growth | +4.8% | +3.6% |
| Median Rent (pw) | $750 | $440 |
| Days on Market | 35 | 40 |
| Vacancy Rate | 1.5% | 2.0% |
GeeVee Investment Score — Elwood
| Factor | Score |
|---|---|
| Capital Growth | 7/10 |
| Lifestyle Premium | 9/10 |
| Tenant Demand | 8/10 |
| Rental Yield | 5/10 |
| Supply Risk | 8/10 |
| GeeVee Score | 7.4/10 |
Access off-market Elwood listings at collings.com.au/portal
Elwood Property FAQs
What is the median house price in Elwood?
The median house price in Elwood is approximately $2.35M in 2026. Canal-fronting homes on Ormond Esplanade regularly exceed $4M. Units have a median of $720k.
Whether you are buying, selling or investing in Elwood, the Collings Property Platform gives you access to off-market opportunities and GeeVee AI analysis. Join free today. collings.com.au/portal
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