Suburb Profile Report for Prahran VIC (3181)

Prahran House: Median price $1,422,500, Annual capital growth 6.61%, Number of sales 98, Weekly median advertised rent $705

Prahran Unit: Median price $535,000, Annual capital growth 4.33%, Number of sales 115, Weekly median advertised rent $420

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

At number 2387th in the list of Australian suburbs ordered by increase in median house value over the last year, Prahran, 3181 is in the BOTTOM 50% with a property value increase of -3.72% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Prahran,3181 has racked up an average of -3.72% over the period. This ranks it number 2789th in the whole country for real estate investors looking at median house price increases.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.90% offered to property buyers. Sellers in Prahran itself are offering an average vendor discount of -6.42% to real estate investors.

On average over the past year, suburb has had 8.17 sales per month, which equates to 98 per year.

Using the current median advertised rental of $705 and the average annual increase in value of a median property of 6.61%, investors should hope to achieve an overall return of 2.58%

Over the last year, property investments in Prahran, 3181 have given investors a capital gain of 1.13%. This compares averagely with the 0.68% for VIC as a whole.

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

LACK OF BUYER INTEREST may well be the reason that Prahran is offering property investors an average of -6.31. This rate of discount on properties puts Suburb at number 162th in terms of most discounted suburbs in VIC

In the last year 115 properties changed hands in Prahran, which puts it as the 40th most active market in VIC when comparing the number of sales per suburb.

Situated 5.13km from the CBD, Prahran is one of Stonnington (C) localities in the postcode 3181.

Metrics i HOUSE UNIT
$1,422,500 $535,000
1.25% 5.47%
-3.72% 1.13%
6.61% 4.33%
$705 $420
98 115
2.58% 4.08%
57.7777777777778 76.0985915492958

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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