Suburb Profile Report for Preston VIC (3072)

Preston House: Median price $915,000, Annual capital growth 9.44%, Number of sales 295, Weekly median advertised rent $440

Preston Unit: Median price $432,500, Annual capital growth 3.66%, Number of sales 278, Weekly median advertised rent $370

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

If you compare the increase in value of investment property in Preston, 3072 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 12.96%.

Preston,3072 has offered an average of 12.96% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Preston 3072 should be seeing an average reduction in asking price of around -3.52% . This means that Preston is holding prices well when compared to other suburbs in VIC.

Preston, 3072’s gross rental yield is 2.50%

With a capital gain of -5.36% for the last 12 months, Preston, 3072 has performed for property investments than its average annual 3.66% property growth over the last 5 years.

Comparing Preston,3072 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Our latest figures would indicate that property sellers in Preston are currently offering property investors an average price cut of -3.60% below the asking price at the moment.

At number 747 in a list of fastest selling suburbs, Preston is just in the bottom half of suburbs in Australia with an average of days on market 76.62 for properties listed there.

Situated 6.30km from the CBD, Preston is one of Darebin localities in the postcode 3072.

Mark Flinn Information supplied by:

Mark Flinn
Yellow Brick Road Wealth Management

M 1300 789 150
O 0421 078 067

W www.YBRRosanna.com.au
E askus@ybrrosanna.com.au
Located 9km north of Melbourne’s CBD, Preston was first surveyed for subdivision way back in 1837.

Home to an active sporting scene including Northern Blue and Northern Knights Australian Rules football clubs, as well as the Preston Lions FC soccer club.

Preston is home to a multitude of schools including more than 7 primary schools and 4 schools offering secondary education to residents from all cultural backgrounds.

Preston is well served by Train, Tram and an extensive Bus network.Full summary
Located 9km north of Melbourne’s CBD, Preston was first surveyed for subdivision way back in 1837.
 
Home to an active sporting scene including Northern Blue and Northern Knights Australian  Rules football clubs,  as well as the Preston Lions FC soccer club.
 
Preston is home to a multitude of schools including more than 7 primary schools and 4 schools offering secondary education to residents from all cultural backgrounds.
 
Preston is well served by Train, Tram and an extensive Bus network.
 
Selling points: 
Local schools and amenities.
A wide range of cultures resulting in multicultural dining and shopping.
A multitude of education prices.
 
Most sought-after properties: 
Older houses on larger blocks for potential unit development in time.
Californian bungalows.
 
Most common properties:  
Californian bungalows and smaller units.
 
Top amenities: 
High Street shopping precinct
 
Local industry and business:
Little Henri Cafe
The Old Fire Station Cafe
 
Recent changes: 
The redevelopment of properties and the increasing popularity of Californian bungalows for renovation.
 
Best streets: 
Halwyn Crescent
Collins Street
Bruce Street
 
Public transport: 
Preston Train Station
Tram Services
Bus Services
 
Main arteries: 
High Street
Plenty Road
Close
Metrics i HOUSE UNIT
$915,000 $432,500
4.57% -2.26%
12.96% -5.36%
9.44% 3.66%
$440 $370
295 278
2.50% 4.45%
54.57 76.62

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Preston VIC
Demographics
Total population 29925
Median household income ($/weekly) 1155
Median age of persons 36
Median housing loan repayment ($/monthly) 1863
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 2991 10.0
    25-34 years 5526 18.5
    35-44 years 5235 17.5
    45-54 years 3842 12.8
    55-64 years 2629 8.8
    Others 9701 32.4
    Age Group
    Census Count Percent(%)
    Not Married 10669 47.8
    Registered Married 9330 41.8
    Defacto Relationship 2329 10.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 17361 62.8
    Croatia 1178 4.3
    Hong Kong 1074 3.9
    Japan 1324 4.8
    Other 1543 5.6
    Others 5150 18.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 1207 4.6
    Christianity 15185 57.3
    Hinduism 749 2.8
    Islam 1602 6.0
    No Religion 7364 27.8
    Others 399 1.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1063 10.8
    $600-$799 868 8.8
    $1,000-$1,249 928 9.4
    $1,500-$1,999 1221 12.4
    $2,000-$2,499 907 9.2
    Others 4850 49.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 8428 36.9
    Not in the labour force 8271 36.2
    Employed, worked part-time 4260 18.7
    Unemployed, looking for work 991 4.3
    Employed, away from work 890 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 1467 10.8
    Professionals 3628 26.7
    Technicians & trades workers 1739 12.8
    Community & personal service workers 1353 10.0
    Clerical & administrative workers 1967 14.5
    Others 3425 25.2
    Occupation
    Census Count Percent(%)
    Pre-school 516 7.5
    Infants/Primary 1870 27.2
    Secondary 1358 19.7
    Technical or Further Educational Institution 769 11.2
    University or other Tertiary Institutions 2006 29.2
    Others 360 5.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 20464 74.5
    Flat, unit or apartment 3725 13.6
    Semi-detached, row or terrace house, townhouse 3091 11.2
    House or flat attached to a shop, office 193 0.7
    Caravan, cabin, houseboat 5 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 3940 37.1
    Fully owned 3513 33.1
    Being purchased 3100 29.2
    Other tenure type 56 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals