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Buyers advocate · Elwood

Buyers Agent in Elwood, on your side only.

Elwood is one of Melbourne’s most tightly held bayside suburbs — low supply, strong owner-occupier demand, and a coastal lifestyle that rarely goes out of fashion.

Book a free strategy call Call 03 9498 3131

★ 4.9 rated on GoogleIndependent, buyer-onlyOne fixed fee, agreed upfront

1 in 2Bought off-market

47Days on average

50+Years combined

By Alana Prideaux, Co-Founder and Licensed Estate Agent

Updated 11 October 2026

Elwood at a glance

Expert Property Advocacy in Elwood, Melbourne

Elwood sits between St Kilda and Brighton, roughly 8km from the CBD, with a market defined by Art Deco apartments, leafy streets, and limited stock. In 2026, the house market has softened slightly, but the suburb’s scarcity and lifestyle credentials keep it firmly on buyers’ shortlists.

Elwood market snapshot

Median House Price: $2,100,000
Median Unit Price: $665,000
House Price Change (12 months): -3.7%
Unit Price Change (12 months): +0.9%
Avg Days on Market (Houses): 44 days
Auction Clearance Rate: 55.6%
Median Weekly Rent (House): $1,070 per week
Unit Rent Growth (12 months): 3.5%
Rental Yield (Houses): 2.4%

Talk to us about this suburb

How it works

How we buy in Elwood

Free strategy call

Thirty minutes on your brief, your budget and the streets and property types that genuinely fit it. No obligation.

Search on and off market

We inspect, shortlist and run the due diligence, including homes that sell quietly and never reach the portals.

Negotiate or bid, then settle

We set the price strategy, negotiate or bid on your behalf, and manage the contract through to settlement.

Book a free strategy callOne fixed fee, agreed upfront. We act only for the buyer, never the vendor.

Lou LihariFormer selling agent and auctioneer. Leads negotiation and bidding for our clients.

Before you inspect

Elwood Property Market Insights

Elwood is a tightly held suburb with limited turnover. The house market has pulled back around 3.7% over 12 months, which represents a real opportunity for buyers who’ve been priced out previously. Units are holding steadier with modest growth. The challenge here is competition — good properties move quickly and off-market opportunities require strong agent relationships to access. That’s where we add real value.

Talk to LP Advisory about buying in Elwood

Book a free strategy call

Local knowledge

Buying in Elwood: a local view

Premium pockets

The streets between Ormond Road and the beach, and the leafy pockets near the St Kilda Botanical Gardens edge, are the most sought after. Buyers pay for walkability to the village and the foreshore.

Quieter pockets to weigh up

Parts of Elwood, particularly the low-lying streets near the canal, sit within a recognised flood overlay. It is worth checking the flood mapping for any specific address before you buy.

Hardest stock to secure

A renovated freestanding house on a dry, elevated block close to Ormond Road. Much of Elwood’s stock is Art Deco apartments, so quality houses on the better streets are the contested ones.

A common buyer mistake

Buying an Art Deco apartment without checking the owners corporation finances, or a house without checking the flood overlay and any history. Both are easy to miss and costly to ignore.

Life in Elwood

Ormond Road is the heart of Elwood. It is the kind of street where you can walk to the cafes, the shops and the beach, and Blue Tongue is a favourite local wine bar. The walkability is a genuine part of the suburb’s appeal and its value. Elsternwick Park at the end of Ormond Road is the spot for a walk, especially with a dog, and Ormond Point delivers one of the best sunsets over the bay in Melbourne.

School zones in Elwood

Elwood families are zoned to Elwood Primary School and Elwood College, which sit together as part of the Elwood education precinct. St Kilda Primary and St Kilda Park Primary serve parts of the surrounding area. Confirm your exact zoning by address at findmyschool.vic.gov.au.

If Elwood is out of reach: St Kilda and Elsternwick offer a similar bayside-village feel close by, generally at a lower entry point.

Thinking of buying in Elwood?

We take on a limited number of clients at a time, so every brief gets a director’s full attention. Book a free, no-obligation strategy call and we will map out your Elwood search together. Book a free strategy call

Proof, not promises

Recent results across inner Melbourne

Many of our purchases never reach the open market.

Off-market

Middle Park

$5.025m, secured off-market for a returning client.

Auction

Richmond

Secured at auction for $1.635m, below the $1.75m reserve.

Recent purchases

See every home we have secured for clients

Prices, strategy and how each one was won.

       EXCELLENT  
   Based on 76 reviews 
    
 
 
 
   
 
 
      Posted on Google  
   
   Connie Caligiuri 
 26 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Lou was extremely helpful, professional, personable and knowledgeable from the get go. He was responsive throughout the process and gave us the confidence we needed to make informed decisions. My partner and I can’t recommend Lou’s services enough! Thank you Lou!
  
 
     Posted on Google  
   
   Stephanie Evans 
 28 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Have dealt with LP Advisory on many occasion being a real estate agent in the Port Phillip area. I have to say Lou is always extremely easy and no fuss to deal with, always having the best intentions for their clients. Lou recently purchased a property through us pre market in South Melbourne. Within 48 hours, his client had viewed, a building inspection had been conducted and we had negotiated with the owner and come to an agreeable price. Happy clients all round so thank you.
Steph Evans - Marshall White.
  
 
     Posted on Google  
   
   Kirrily Graham 
 28 days ago
 
 
 Trustindex verifies that the original source of the review is Google. The team at LP Advisory are an absolute delight to work with. They have incredible experience, local knowledge and expansive network in the industry.
They provide an impeccable service and I was so impressed with their promptness and level of communication.
Thanks Lou and Alana, it is a pleasure to work with you!
  
 
     Posted on Google  
   
   Tashi Dorjee 
 30 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Genuine, easy to trust , real world market advice. Can't recommend him enough
  
 
     Posted on Google  
   
   Hayley Vo 
 35 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I’ve had the pleasure of working with Lou on a number of property matters, and one thing that really stands out is the level of care and attention to detail he puts into the property search for his clients.
Lou is extremely knowledgeable. He is always asking questions, clarifying details and making sure he has a thorough understanding of the property so he can properly guide and assist his clients.
From a conveyancer’s perspective, it’s really lovely to see the amount of care he takes behind the scenes to ensure his clients are making informed decisions and purchasing the right property for them.
I would happily recommend him to anyone looking for an experienced, knowledgeable and genuinely caring buyer’s advocate.
  
 
     Posted on Google  
   
   Dominic Monaco 
 68 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I've had the pleasure of getting to know Lou and Alana from LP Advisory and wouldn't hesitate to recommend them.

They genuinely put their clients first and are committed to helping buyers make informed property decisions. Their knowledge of the Melbourne market, professionalism and attention to detail are evident in everything they do.

They're approachable, honest, responsive and clearly passionate about achieving the best possible outcome for their clients. I have every confidence recommending LP Advisory to anyone looking for a trusted buyer's advocate.
  
 
     Posted on Google  
   
   James Miller 
 73 days ago
 
 
 Trustindex verifies that the original source of the review is Google. There are not enough superlatives for what a wonderful job Lou and Alana have done. Looking for a home is stressful enough, especially when you add in the fact I am move interstate, however the LP Advisory team took all the difficult work out of it. I am extremely happy with the service and care I have received, which obviously ranged from sourcing appropriate inspections based on my preferences, then through going to them, giving me amazing advice and suggestions. They are both very professional, very kind and very efficient.

Thank you both so very much. I am beyond appreciative and I could not recommend their services enough. If anyone is looking, please look into Lou and Alana.

Thanks :)
  
 
     Posted on Google  
   
   Erin Richardson 
 73 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I could not recommend Lou, Alana and the LP Advisory Team more highly. They are absolutely the real deal in terms of their local knowledge, price guidance and relationships - it is almost an unfair advantage if you have them on your team. I recently was able to purchase a home far better than anything I would have dreamed of due to the strength of their relationships and negotiating advice. At no point did I ever feel pressured to look at  homes which I felt were off brief - they would send me video tours of homes before I even stepped in to make sure that it was only for the highest and best potential homes that I was investing my time. I wasn't fighting with the regular weekend crowds but had the opportunity to view when it suited me. And more than that, I was able to be candid and open in my feedback which was clearly taken back on board and reflected back in the shortlist that was presented back to me. As a business owner making a significant purchase, their commercial nous was unbelievable as was their integrity (they earned their fee four times over) and I feel incredibly fortunate to have worked with them. I was actually recommended them by one of the local Port Melbourne/Albert Park agents who probably regrets introducing us now!
  
 
     Posted on Google  
   
   Janet Free 
 74 days ago
 
 
 Trustindex verifies that the original source of the review is Google. +0
Lou and Alana were absolutely brilliant. Our son lives interstate and we were unfamiliar with local areas in Victoria.
Both Lou and Alana were so prompt in returning answers to our questions. Building and pest inspection as well as conveyancing was organised by the team. Dealing with the Vendors  agent was done by Lou all the while checking back with us before any action was taken. We flew down  and loved the choice. Everything from  that moment was completed in two weeks without any problems at all. Our son will now be moving to Victoria thanks to the help of Lou and Alana.
Importantly apart from their professional expertise both Lou and Alana are really lovely lovely people. I could not recommend them more highly. Do yourselves a favour and use LP Advisory, you will not regret your decision.
Janet and Owen Free.
  
 
     Posted on Google  
   
   Zain Choudhry 
 75 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Lou and Alana were absolutely outstanding throughout our entire home buying journey. From organising inspections and accommodating our many (often high maintenance!) requests, right through to making offers, coordinating conveyancing and settlement, they made every step feel seamless.

Nothing was ever too much trouble, and they consistently went above and beyond to make sure everything was taken care of. Their communication was excellent, they were incredibly professional, and they were genuinely lovely people to work with. We always felt supported, well informed and confident that they had our best interests at heart.

Buying a home can be stressful, but Lou and Alana made the experience so much easier. I couldn’t recommend them more highly to anyone looking for buyer advocates who are knowledgeable, responsive and truly committed to their clients.

Your team

Why Choose LP Advisory for Elwood

LP Advisory works in Elwood regularly and understands the local market nuances — from which Art Deco buildings have solid body corporates to which streets command a bay premium. We access off-market stock through agent relationships and advocate on your behalf through to settlement.

Lou Lihari

Director · Lead buyers agent

Former selling agent and auctioneer. Negotiates and bids for you.

Alana Prideaux

Director of Operations · Licensed agent

Runs due diligence: contracts, Section 32, overlays and building reports.

Sharyn Prideaux

Off-market specialist

Finds the homes that sell quietly, before they reach the portals.

Questions

Elwood Property — Common Questions

Is Elwood a good suburb to buy in?

Elwood is a premium bayside suburb with genuine scarcity. The slight price correction in 2025-26 has created entry opportunities that haven’t existed in years. It suits buyers focused on long-term capital growth and owner-occupier appeal.

What is the median house price in Elwood in 2026?

The median house price in Elwood is $2,100,000, down around 3.7% over the past 12 months. Units sit at $665,000, up 0.9%.

How quickly do properties sell in Elwood?

Houses are averaging 44 days on market. Units move faster at around 29 days, indicating stronger underlying demand in the apartment segment.

What is the rental yield in Elwood?

The gross yield for houses is approximately 2.4% — this is a capital growth suburb, not a yield play. Investors should factor in long hold periods and strong tenant demand.

What is the auction clearance rate in Elwood?

The clearance rate for houses is 55.6%, which reflects Melbourne’s broader softer conditions. Well-presented properties in good streets still attract solid competition.

Do I need a buyer's agent to buy in Elwood?

Elwood’s off-market scene is active. A significant proportion of transactions happen before public listing. Without agent relationships and local knowledge, buyers can miss the best opportunities or overpay at auction.

Free 30-minute call

Buying in Elwood?

Talk to us before your next inspection or auction. You will come away with a clear view on price, competition and your best next step.

Book a free strategy call Call 03 9498 3131

Also buying nearby

St Kilda, Brighton, Elsternwick, Ripponlea, Balaclava, Middle Park

All 75 suburbs

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How we can help

We act for owner occupiers buying a home to live in, as well as first home buyers, families upsizing, downsizers and property investors.

Some homes change hands before they are ever advertised, so we search off-market property as well as listings. If it goes to auction, we can bid for you. Not sure about the building? Start with a pre-purchase property report.

Moving from interstate or overseas? We run the search and inspections for buyers who are not in Melbourne. Buying for business or super? See our commercial property buyers advocate service.

Selling instead? Our vendor advocates help you pick the right agent and campaign.

Have An Enquiry?

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03 9498 3131

Buyers Agent in Elwood, on your side only.