Suburb

Market snapshot

Suburb insights for Preston3072

Change suburb

Preston, approximately 9 km north of Melbourne’s CBD, has evolved from a working-class suburb into a thriving, multicultural area that is popular with young families and first-home buyers. It offers a rich mix of cultures reflected in its markets, eateries, and local events, anchored by Preston Market and High Street shopping precincts. Well-served by trains, trams, and buses, the suburb also boasts numerous parks and schools, contributing to its growing popularity.

Recent sales and auction results in Preston

AddressBedroomsPriceTypeMethodSale DateAgentListing
189-191 Gilbert Rd, Preston3PriceHouseSold Before Auction1/10/2026Nelson AlexanderView
20 Mary St, Preston2PriceHouseSold Before Auction29/09/2026Nelson AlexanderView
703/1 High St, Preston1PriceApartmentPrivate Sale23/09/2026hockingstuartView
2 Nichol St, Preston3PriceHousePrivate Sale21/09/2026MilesView
22 Foley Av, Preston3PriceHouseSold Before Auction18/09/2026Jellis CraigView
8/11 Osborne Gr, Preston2PriceApartmentPrivate Sale10/09/2026hockingstuart
522 Murray Rd, Preston3PriceHousePrivate Sale22/09/2026McgrathView
656 Murray Rd, Preston2PriceHousePrivate Sale14/09/2026Barry PlantView

Sales data

Median sale price
$1.2mil
Quarterly price change
-4.3%
Metro Melbourne Comparison
$953k
-3.1%
BedroomsPrestonMetro comparison
2$1,024,000$950,000
3$1,217,500$872,000
4$1,410,000$990,000
InsightPrestonMetro comparison
Clearance rate67.1%68.8%
Days on market36.542

Rental data

Median weekly rent
$700
Rental yield
2.9%
Metro Melbourne Comparison
$580
3.1%
BedroomsPrestonMetro comparison
2$600$600
3$720$560
4$915$600
Median data for the current quarter
Find a REIV member

Find a REIV member

Real estate professionals in your area with the right skills, the best knowledge and proven expertise.
Find a member