Market snapshot
Suburb insights for Preston3072
Change suburbPreston, 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
| Address | Bedrooms | Price | Type | Method | Sale Date | Agent | Listing |
|---|---|---|---|---|---|---|---|
| 12/43 High St, Preston | 1 |  | Unit | Private Sale | 9/12/2025 | Nelson Alexander | View |
Sales data
Median sale price
$1.3mil
Quarterly price change
1%
Metro Melbourne Comparison
$974k
1.8%
| Bedrooms | Preston | Metro comparison |
|---|---|---|
| 2 | $1,035,000 | $940,000 |
| 3 | $1,191,250 | $851,000 |
| 4 | $1,411,000 | $970,000 |
| Insight | Preston | Metro comparison |
|---|---|---|
| Clearance rate | 77.7% | 77.8% |
| Days on market | 41 | 36 |
Rental data
Median weekly rent
$680
Rental yield
2.9%
Metro Melbourne Comparison
$580
3.2%
| Bedrooms | Preston | Metro comparison |
|---|---|---|
| 2 | $575 | $585 |
| 3 | $680 | $550 |
| 4 | $915 | $600 |
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