St Kilda and Elwood are Melbourne’s two premier bayside inner suburbs. St Kilda offers higher yields driven by its entertainment precinct and renter majority; Elwood offers stronger capital growth driven by its Art Deco housing stock and owner-occupier appeal.
Median Price Comparison
| Metric | St Kilda | Elwood |
|---|---|---|
| Median House Price | $1,480,000 | $1,850,000 |
| Median Unit Price | $540,000 | $680,000 |
| House Yield | 2.4% | 1.8% |
| Unit Yield | 4.8% | 3.6% |
| 5-Year Growth | 29% | 43% |
| GeeVee Score | 7.5/10 | 8.2/10 |
Which Suburb Wins for Yield?
St Kilda wins clearly on unit yield (4.8% vs 3.6%) with a significantly lower entry price. The suburb’s entertainment precinct and tourist economy drive strong short-stay and long-term rental demand.
Which Suburb Wins for Capital Growth?
Elwood wins decisively on capital growth (43% vs 29% over five years) driven by Art Deco scarcity, beachfront appeal and strong owner-occupier competition from high-income households.
Frequently Asked Questions
Is Elwood more expensive than St Kilda?
Yes. Elwood’s median house price is $1,850,000 versus $1,480,000 for St Kilda — a $370,000 premium. Unit prices are similarly higher ($680,000 vs $540,000).
Which suburb is better for Airbnb investment?
St Kilda has stronger short-stay demand due to its entertainment precinct, beach, Luna Park and year-round tourist traffic, making it Melbourne’s premier Airbnb suburb.
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