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AREA REPORTS

Preston

Suburb Profile

Preston - FREE 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 $900,000.

The upward trend in home prices in PRESTON, 3072 averaged 3.03% per annum over a 3-year period.

Average weekly rents on listings have reached the $500 mark, reflecting a 2.89% increase in returns based on the current median price in PRESTON.

An average of 19.17 real estate transactions take place per month in PRESTON which translates to 230 per annum.

230 properties were sold in PRESTON in 2016, making it the 400th most active market in VIC based on total real estate transactions.

PRESTON, 3072 places 289th in Australia based on median property value growth during the quarter.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $900,000 $460,000
GROWTH REPORT
Median Quarterly -0.44% -0.05%
Median 12 month -9.04% -0.54%
Median 3 years 9.09% 1.1%
Median 5 years 35.95% 3.6%
10 years average annual 6.78% 2.32%
Weekly media advert. rent $500 $420
Time on Market 55.4 days 56.2 days
Gross Rental Yield Percent 2.89% 4.75%
demographics (median values)
Total Population
27889
Weekly Household Income
879.3
Household Size
2.50
demographics
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