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Prahran
AREA REPORTS

Prahran

Prahran - 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 9.27% for the past year.

Investors saw the median home price rise to $1,815,000.

Profits due to an upward trend in home prices in the suburb averaged 7.55% per annum over a 3-year period.

PRAHRAN now ranks at the 699th 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 $730 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 46.9 days.

In 2016, 147 properties were sold in PRAHRAN during the past year, making it the 615th most active market in VIC based on total real estate transactions.

Data report can be found below

Prahran
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,815,000 $610,000
GROWTH REPORT
Median Quarterly -0.27% 0%
Median 12 month 9.27% 3.57%
Median 3 years 22.64% 6.09%
Median 5 years 32.2% 3.39%
10 years average annual 7.18% 2.5%
Weekly media advert. rent $730 $380
Time on Market 46.9 days 63.3 days
Gross Rental Yield Percent 2.09% 3.24%
demographics (median values)*
Total Population
20260
Weekly Household Income
1816
Household Size
1.90
Age
33
Monthly Loan Repayment
2167
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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