Suburb Profile Report for Preston VIC (3072)

Preston House: Median price $836,550, Annual capital growth 9.18%, Number of sales 303, Weekly median advertised rent $430

Preston Unit: Median price $455,000, Annual capital growth 5.42%, Number of sales 263, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Preston, 3072 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 14.60%

Preston,3072 was ranked 1034 in Australia by increase in median property value over the quarter.

Property investors looking for a bargain in Preston should be aiming for at least -4.71% off the asking price, which is the average vendor discount being achieved at the moment.

Advertised rents are around the $430 mark per week – giving a return of 2.67% based on the median price in Suburb

Investment property in Preston has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.02%

Over the longer term, Preston has seen property prices show investors a 16.67% return over the last 3 years. This is worse than over the last 12 months

LACK OF BUYER INTEREST may well be the reason that Preston is offering property investors an average of -5.33. This rate of discount on properties puts Suburb at number 184th in terms of most discounted suburbs in VIC

At number 453 in a list of fastest selling suburbs, Preston is in the TOP 40% of suburbs in Australia with an average of days on market 60.48 for properties listed there.

Situated 6.55km 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
HOUSE UNIT
$836,550 $455,000
2.64% 1.11%
14.60% 2.02%
9.18% 5.42%
$430 $360
303 263
2.67% 4.11%
47.91 60.48

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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