VIC/
Prahran

Suburb Profile

Prahran - FREE SUBURB PROFILE REPORT
POSTAL CODE: VIC,3181

house
unit

PRAHRAN, 3181 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling PRAHRAN, 3181 values up and netting property investors a capital gain of 6% for the past year.

Investors saw the median home price rise to $1,590,000.

Profits due to an upward trend in home prices in the suburb averaged 19.67% per annum over a 3-year period.

PRAHRAN now ranks at the 470th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in PRAHRAN are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $625 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In PRAHRAN, homes and units usually stay on listing for an average of 44.6 days.

In 2016, 144 properties were sold in PRAHRAN during the past year, making it the 572nd most active market in VIC based on total real estate transactions.

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,590,000 $532,000
GROWTH REPORT
Median Quarterly 0.95% 3.89%
Median 12 month 6% 0.38%
Median 3 years 59% 5.35%
Median 5 years 91.34% 15.4%
10 years average annual 8.48% 5.6%
Weekly media advert. rent $625 $400
Time on Market 44.6 days 73.6 days
Gross Rental Yield Percent 2.04% 3.91%
demographics (median values)
Total Population
10647
Weekly Household Income
1166
Household Size
1.90
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