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Suburb profile: Elwood
Posted by   |   April 30th, 2014   |   Categories: Market Trends, News

Australia’s Number 1 investor spot!

New research released this week by property data has tipped strong capital growth over the next five years for Elwood, St.Kilda and Richmond. The data suggests that Elwood is the nation’s top suburb to buy a unit in, with expected annual growth of more than 8 per cent until 2019. St Kilda and Richmond follow closely behind with a predicted 7 per cent annual growth.

Elwood has an eclectic mix of both houses, flats and units, and has a median property price of $1.225 to buy and $695 per week to rent. With a relaxed bayside lifestyle amidst stunning period architecture, the suburb has a trendy and peaceful feel without having to give up the thrill of the city.

The suburb has a great range of cafes, organic supermarkets and local stores interspread with newer, more recognisable businesses. The pace is relaxed in Elwood, with the beach basically at the bottom of the streets, fringed by grassy knolls that give gorgeous bay views!

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