St Kilda and Elwood share the same bayside strip on Port Phillip Bay, separated by a $370,000 house price gap. Elwood is quieter, more family-oriented and more expensive. St Kilda is higher yield, higher turnover and more investor-driven. GeeVee compares both.
At a Glance: St Kilda vs Elwood 2026
| Metric | St Kilda | Elwood |
|---|---|---|
| Median House Price | $1,480,000 | $1,850,000 |
| Median Unit Price | $540,000 | $680,000 |
| Gross Unit Yield | 4.8% | 3.6% |
| 5-Year Growth | 31% | 43% |
| GeeVee Score | 7.5/10 | 8.2/10 |
Why Elwood Commands a Premium
Elwood’s $370,000 house price premium over St Kilda reflects its Art Deco housing stock, quieter family-oriented streets, higher owner-occupier rate (52% vs 33% in St Kilda) and exceptional 43% 5-year capital growth. St Kilda’s higher yield (4.8% vs 3.6% for units) reflects its larger renter cohort (67%) and short-stay conversion potential. For capital growth, Elwood wins. For yield, St Kilda wins.
Frequently Asked Questions
Is Elwood or St Kilda more expensive?
Elwood is more expensive by $370,000 for houses and $140,000 for units (REIV Q2 2025).
Which has better rental yield — St Kilda or Elwood?
St Kilda has a significantly higher gross unit yield at 4.8% vs Elwood’s 3.6% (REIV Q2 2025).
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