Port Phillip · 3184
Elwood, VIC
population +7.8% (5y), listings tightening 5.0% YoY.
NextSuburb scoreTier C
42Below trend
Median house
$2.24M
5y growth
3.9%/yr
Gross yield
1.0%
Vacancy
1.2%
Stable but fully pricedHigh confidence
Eight-signal breakdown
Each signal scored 0–100 against the national distribution. Bars reflect how this suburb sits across the index.
- Capital growth (5y)3.9%/yr39/100
- Population growth+7.8% (5y)78/100
- Supply tightening-5.0% YoY75/100
- Rental yield1.0%19/100
- Rental demand1.2% vacancy70/100
- Income growth+18.0% (5y)72/100
- Construction pipelineno nearby pipeline0/100
- Affordabilityabove cap0/100
Why this score
Elwood scores 42/100 (Below trend). The two strongest signals: 7.8% population growth over five years and 18.0% income growth. The standout watch-out: the median is 149% of a typical budget.
Drivers
- Population growth+7.8% (5y)
- Supply tightening-5.0% YoY
- Income growth+18.0% (5y)
- Tight rentals1.2%
Risks
- At top of budget (149% of cap)
- Thin gross yield (1.0%)
Nearest infrastructure
Metro Tunnel — Anzac Station5.3 km away
Recently completed · $13.5bn · completion 2025
Construction-stage projects within 10 km lift the suburb’s infrastructure score; projects more than 25 km away barely move it.
Comparable suburbs
Three VIC suburbs in the same budget band with the closest NextSuburb scores.
See the full VIC ranking60-month score history
Backfilled — live history begins May 2026Watch this suburb
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