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.