Elwood and St Kilda are Melbourne’s two most recognisable bayside suburbs, separated by Elwood Beach. Elwood is the quieter, more family-oriented neighbour; St Kilda is Melbourne’s most famous tourist and entertainment precinct. Both offer strong short-stay Airbnb potential and solid long-term rental demand.
Key Metrics Compared
| Metric | Elwood | St Kilda |
|---|---|---|
| Median House Price | $1,850,000 | $1,480,000 |
| Median Unit/Apartment Price | $680,000 | $540,000 |
| Gross Long-Term Yield (Unit) | 3.2% | 4.8% |
| Airbnb Yield Estimate | 5.1% | 7.4% |
| 5-Year Price Growth | 43% | 29% |
| Renter Rate (ABS 2021) | 42% | 67% |
| GeeVee Investment Score | 8.2/10 | 7.5/10 |
GeeVee Verdict
Elwood wins on capital growth (43% vs 29% over five years) and demographic quality. St Kilda wins on yield, Airbnb income potential and entry price. For cash-flow investors, St Kilda’s 4.8% long-term yield and 7.4% Airbnb potential is unmatched in bayside Melbourne. For growth investors, Elwood’s 43% five-year run and Art Deco heritage stock is the stronger long-term hold.
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