Suburb Profile Report for Prahran VIC (3181)

Prahran House: Median price $1,450,000, Annual capital growth 9.18%, Number of sales 132, Weekly median advertised rent $595

Prahran Unit: Median price $532,502, Annual capital growth 5.08%, Number of sales 236, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Prahran, 3181 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 12.40%.

While Prahran,3181 ranked number 92th in VIC for increase in median house value (annualised) increase, it is ranked 4th over the last 5 years.

At number 27th of VIC’s most discounted properties, Prahran is in the bottom 10% of the state/territory when listing in order of most discounted to least.

Residents and property investors in Prahran have been waiting around 56.64 days to sell a property.

With a capital gain of -1.21% for the last 12 months, Prahran, 3181 has performed for property investments than its average annual 5.08% property growth over the last 5 years.

Prahran,3181 has offered an average of -1.21% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Prahran 3181 should be seeing an average reduction in asking price of around -8.82% . This means that Prahran is holding prices well when compared to other suburbs in VIC.

With the median price for a house in Prahran being $532502 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 3.81%

HOUSE UNIT
$1,450,000 $532,502
5.04% 0.58%
12.40% -1.21%
9.18% 5.08%
$595 $390
132 236
2.13% 3.81%
56.64 84.44

Source: CoreLogic

DSR Score for property investment : Balanced (U), Balanced (H)
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Demographics
Total population 11191
Median household income ($/weekly) 1609
Median age of persons 33
Median housing loan repayment ($/monthly) 2383
Average household size 1.9
  • Census Count Percent(%)
    20-24 years 1091 9.7
    25-34 years 3459 30.9
    35-44 years 1925 17.2
    45-54 years 1123 10.0
    55-64 years 918 8.2
    Others 2675 23.9
    Age Group
    Census Count Percent(%)
    Not Married 4711 54.1
    Registered Married 2419 27.8
    Defacto Relationship 1575 18.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 6854 67.2
    Hong Kong 388 3.8
    Papua New Guinea 376 3.7
    United Kingdom 569 5.6
    Other 586 5.7
    Others 1424 14.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 288 3.0
    Christianity 5093 52.4
    Islam 143 1.5
    Judaism 361 3.7
    No Religion 3660 37.6
    Others 181 1.9
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 360 7.7
    $1,500-$1,999 531 11.3
    $2,000-$2,499 384 8.2
    $2,500-$2,999 661 14.1
    $4,000 or more 364 7.8
    Others 2391 51.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4869 52.7
    Not in the labour force 2259 24.5
    Employed, worked part-time 1487 16.1
    Employed, away from work 337 3.6
    Unemployed, looking for work 281 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 1182 17.7
    Professionals 2640 39.4
    Community & personal service workers 552 8.2
    Clerical & administrative workers 893 13.3
    Sales 579 8.6
    Others 850 12.7
    Occupation
    Census Count Percent(%)
    Pre-school 142 7.3
    Infants/Primary 355 18.3
    Secondary 226 11.6
    Technical or Further Educational Institution 221 11.4
    University or other Tertiary Institutions 897 46.1
    Others 103 5.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 4303 43.6
    Separate house 3459 35.0
    Semi-detached, row or terrace house, townhouse 2089 21.2
    House or flat attached to a shop, office 25 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2828 55.7
    Being purchased 1146 22.6
    Fully owned 1066 21.0
    Other tenure type 33 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals