Push The Boundaries

The Age

Saturday January 26, 2008

Susannah Petty

Elsternwick has less expensive rentals than other bayside suburbs, writes Susannah Petty.

IT'S amazing what a difference a boundary makes.

On the bay side of the Nepean Highway lie Brighton and Elwood, respective Melbourne high flyers in affluence and trendiness. On the other is Elsternwick: conservative and overshadowed.

Elsternwick may not be first choice for many in the rental stakes, however, agents say the compact suburb does exert a strong pull once you're in.

Price is perhaps the initial lure for some. Agents point to a difference of about $200 a week when comparing mid-range Elsternwick properties with those of its bayside counterparts.

L. J. Hooker's Yvonne Bresley says in Elsternwick a three-bedroom house can start from about $400 for something basic, rising to $600 for something that's been modernised within. She says decent one-bedroom apartments weigh in from about $250 a week.

Ms Bresley says rents have risen on average between $20 and $50 a week over the past 12 months.

But dollar savings aside, Elsternwick also has some charms that may not be immediately apparent. One is that owner-occupiers outweigh investors, contributing to a tangible sense of local pride.

"You don't get the same sort of problems that you have with high rental areas that have people that don't care as much for their properties in some respects," says Jane Ormerod of Buxton Real Estate.

In addition she says renters often put down strong roots - most signing up for at least 12 months.

Elsternwick's properties are also attractive and include Edwardian and Californian bungalows, as well as a notable spread of art deco apartments. Some of the main streets have made room for modern apartment developments, although overall the feel of the suburb remains low-rise and vintage.

Ms Ormerod says while Elsternwick still has plenty of unimproved houses, a lot are "really gorgeous". "Quite a few of the properties we manage that have been coming onto the books lately are where owners are going interstate or overseas so they are fully renovated," she says.

Despite its size, Elsternwick crams in an impressive number of facilities, including a Wesley College campus, a Jewish day school, a train station (city trips take about 15 minutes) and a large park with a public golf course. The Glen Huntly Road shopping strip has become a feature in its own right, with traditional delis and grocers sharing space with boutiques and multicultural cafes.

This diversity - and the range of property types - has no doubt contributed to a varied population, which includes young professional couples, families and older residents.

And few - especially at the moment - are in a hurry to move.

"I think it's a great place to rent," Ms Ormerod says. "You're close to the beach, close to the shops, close to transport and the rents aren't extraordinarily high."

© 2008 The Age

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