Suburb Profile Report for Prahran VIC (3181)

Prahran House: Median price $1,387,944, Annual capital growth 8.68%, Number of sales 130, Weekly median advertised rent $600

Prahran Unit: Median price $530,001, Annual capital growth 5.00%, Number of sales 215, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 1777th in the list of Australian suburbs ordered by increase in median house value over the last year, Prahran, 3181 is in the top half with a property value increase of 5.95% recorded in median house prices.

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 -7.50% off the asking price, which is the average vendor discount being achieved at the moment.

At number 564 in a list of fastest selling suburbs, Prahran is in the TOP 20% of suburbs in Australia with an average of days on market 52.32 for properties listed there.

Prahran, 3181 ranked 241th in VIC when comparing growth in median property values or capital gain over the last 12 months. Prahran is one of 2098 in our list for VIC

Over the longer term, Prahran has seen property prices show investors a 2.71% return over the last 3 years. This is worse than over the last 12 months

Sellers are offering property buyers an average discount of -8.01% to buyers in Prahran at the moment, which is less than average for the rest of VIC.

Prahran is 237th on a list of best yielding suburbs for rents in VIC with a 3.83% return

HOUSE UNIT
$1,387,944 $530,001
-7.47% -0.47%
5.95% 0.00%
8.68% 5.00%
$600 $390
130 215
2.25% 3.83%
52.32 79.46

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (U)
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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