Suburb Profile Report for Prahran VIC (3181)

Prahran House: Median price $1,400,000, Annual capital growth 8.75%, Number of sales 131, Weekly median advertised rent $595

Prahran Unit: Median price $530,001, Annual capital growth 4.54%, Number of sales 223, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in Prahran, 3181 have given investors a capital gain of 7.69%. This compares averagely with the 7.68% for VIC as a whole.

When looking at the potential capital gains offered to property investors over the last 3 years, Prahran comes in at number 18th in VIC.

The most recent median price for Prahran is $1400000, with sellers offering an average of -7.50% off the asking price.

In the last year 131 properties changed hands in Prahran, which puts it as the 189th most active market in VIC when comparing the number of sales per suburb.

A $595 per week rent on the median house gives suburb investors a gross yield of circa 2.21%, without taking into account capital value appreciation, which has been averaging out at 8.75%.

If you compare the increase in value of investment property in Prahran, 3181 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -1.13%.

Comparing Prahran,3181 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property investors looking for a bargain in Prahran should be aiming for at least -7.94% off the asking price, which is the average vendor discount being achieved at the moment.

At number 778 in a list of fastest selling suburbs, Prahran is just in the bottom half of suburbs in Australia with an average of days on market 79.76 for properties listed there.

Using the current median advertised rental of $390 and the average annual increase in value of a median property of 4.54%, investors should hope to achieve an overall return of 3.83%

HOUSE UNIT
$1,400,000 $530,001
-3.45% 0.95%
7.69% -1.13%
8.75% 4.54%
$595 $390
131 223
2.21% 3.83%
51.38 79.76

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (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
Chart Table
Recent sales & rentals