Suburb Profile Report for Prahran VIC (3181)

Prahran House: Median price $1,530,000, Annual capital growth 9.66%, Number of sales 135, Weekly median advertised rent $600

Prahran Unit: Median price $507,000, Annual capital growth 5.41%, Number of sales 205, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Prahran has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 13.33%

When looking at the potential capital gains offered to property investors over the last 3 years, Prahran comes in at number 11th in VIC.

Vendor discounting in Prahran is giving property investors an average Vendor Discount of around -11.90%. This puts suburb at number 24th in VIC when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Prahran the average time real estate has been on the market is 49.46 days.

A $600 per week rent on the median house gives suburb investors a gross yield of circa 2.04%, without taking into account capital value appreciation, which has been averaging out at 9.66%.

Property investors who have had real estate in Prahran, 3181 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.34%

Prahran,3181 has offered an average of -4.34% return per annum in house price rises to property investors over the last three years.

At number 32th of VIC’s most discounted properties, Prahran is in the bottom 20% of the state/territory when listing in order of most discounted to least.

Often selling an investment property can take time, and in Prahran the average time real estate has been on the market is 78.47 days.

A $390 per week rent on the median house gives suburb investors a gross yield of circa 4.00%, without taking into account capital value appreciation, which has been averaging out at 5.41%.

Metrics i HOUSE UNIT
$1,530,000 $507,000
9.29% -3.33%
13.33% -4.34%
9.66% 5.41%
$600 $390
135 205
2.04% 4.00%
49.46 78.47

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
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