What I’ve Learned as a Buyer’s Agent in Elwood.
Mark is a fully licensed real estate agent and our lead buyer’s agent. With experience as a selling agent, property developer, and owner of Property Managers Melb, he brings a well-rounded perspective and deep industry knowledge.
What are real estate agents like to deal with when buying houses in Elwood?
Elwood’s house market is relatively small, and a handful of established bayside agents manage many of the better listings.
Most quality houses are marketed through polished auction campaigns designed to create competition and urgency.
In my experience, price guides can be conservative, particularly for renovated period homes and properties in tightly held streets.
Buyers may also encounter short offer deadlines, requests to repeatedly improve their price, limited information about competing offers and pre-auction offers that trigger an early or boardroom auction.
Not every agent operates the same way, but buyers should remember that the selling agent represents the vendor.
I verify the agent’s claims, complete my own comparable-sales research and establish a firm walk-away price before negotiating or bidding.
What I Look for When Buying an Apartment in Elwood
Much of Elwood’s apartment stock was built during periods when floor plans were more compact, so some properties can offer less internal space and value for money than apartments in neighbouring suburbs. For this reason, I focus heavily on how well the building has been maintained over the decades.
A modest owners corporation maintenance fund is not necessarily a concern if the property has been consistently cared for and no major repairs are outstanding.
Within this market, ground-floor apartments with private courtyards are usually among the most sought-after.
Buying a house in Elwood
Houses are difficult to buy in Elwood because they represent only around 14% of the suburb’s housing, with apartments making up most of the property supply.
There is no new land available, heritage controls restrict redevelopment, and many owners hold quality homes for long periods.
Some houses are up to 140 years old, making it even harder to find a property that is structurally sound and free from expensive defects.
When a quality house does come onto the market, it usually attracts strong competition from families, professionals and downsizers—often resulting in a competitive auction.
For many buyers, the opportunity to purchase their dream home may only come once during their property-buying journey, making it essential to get the due diligence process right before committing.
The Elwood property pockets I would consider:
Elwood Village: The streets surrounding Ormond Road offer excellent walkability, cafes, shops and access to the beach. Avoid being directly on busy sections of Ormond Road if noise and parking are concerns.
The beach and Point Ormond: This is Elwood’s premium lifestyle pocket. Properties can attract strong prices, but buyers should consider wind, salt corrosion, traffic and flood exposure.
The Poets’ streets: Streets such as Tennyson, Byron, Shelley and Milton contain attractive period houses and boutique apartment buildings. Quality varies considerably from street to street.
Southern Elwood and Elsternwick Park: Generally quieter and more family-oriented, with larger houses, parks and better access toward Elsternwick and Gardenvale stations.
