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 |
|---|---|---|---|---|---|---|---|
| 232 Wood St, Preston | 3 |  | House | Sold Before Auction | 15/04/2026 | Nelson Alexander | View |
| 12/465 Murray Rd, Preston | 2 | | Unit | Private Sale | 31/03/2026 | Barry Plant |
Sales data
Median sale price
$1.3mil
Quarterly price change
1.8%
Metro Melbourne Comparison
$992k
1.9%
| Bedrooms | Preston | Metro comparison |
|---|---|---|
| 2 | $1,017,000 | $950,000 |
| 3 | $1,200,000 | $863,000 |
| 4 | $1,388,000 | $980,500 |
| Insight | Preston | Metro comparison |
|---|---|---|
| Clearance rate | 76.3% | 74.9% |
| Days on market | 38 | 37 |
Rental data
Median weekly rent
$700
Rental yield
2.9%
Metro Melbourne Comparison
$580
3.1%
| Bedrooms | Preston | Metro comparison |
|---|---|---|
| 2 | $595 | $595 |
| 3 | $700 | $550 |
| 4 | $925 | $595 |
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