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Preston
AREA REPORTS

Preston

Preston - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3072

house
unit

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,248,000.

The upward trend in home prices in PRESTON, 3072 averaged 11% per annum over a 3-year period.

Average weekly rents on listings have reached the $500 mark, reflecting a 2.08% increase in returns based on the current median price in PRESTON.

An average of 28.25 real estate transactions take place per month in PRESTON which translates to 339 per annum.

339 properties were sold in PRESTON in 2016, making it the 319th most active market in VIC based on total real estate transactions.

PRESTON, 3072 places 359th in Australia based on median property value growth during the quarter.

Data report can be found below

Preston
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,248,000 $620,000
GROWTH REPORT
Median Quarterly 4% 0%
Median 12 month 18.86% 20.86%
Median 3 years 33.01% 36.71%
Median 5 years 42.63% 39.33%
10 years average annual 7.8% 3.97%
Weekly media advert. rent $500 $390
Time on Market 54.2 days 68.1 days
Gross Rental Yield Percent 2.08% 3.27%
demographics (median values)*
Total Population
32851
Weekly Household Income
1427
Household Size
2.50
Age
36
Monthly Loan Repayment
1950
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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