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 |
|---|---|---|---|---|---|---|---|
| 42/93-103 High St, Preston | 2 |  | Apartment | Passed in Vendor Bid | 31/07/2026 | Ray White | |
| 48 Malpas St, Preston | 3 |  | House | Auction Sale | 31/07/2026 | Ray White | |
| 289 Plenty Rd, Preston | 3 |  | House | Auction Sale | 31/07/2026 | Nelson Alexander | View |
| 307 Plenty Rd, Preston | 4 |  | House | Private Sale | 21/07/2026 | Jellis Craig | View |
| 1/27 Sylvester Gr, Preston | 2 | | Unit | Passed in at Auction | 31/07/2026 | Ray White Coburg | View |
| 20 Victoria St, Preston | 2 | | House | Auction Sale | 31/07/2026 | Ray White | |
| 24 Sylvester Gr, Preston | 5 | | House | Private Sale | 7/07/2026 | Nelson Alexander | View |
Sales data
Median sale price
$1.2mil
Quarterly price change
-4.3%
Metro Melbourne Comparison
$953k
-3.1%
| Bedrooms | Preston | Metro comparison |
|---|---|---|
| 2 | $1,024,000 | $950,000 |
| 3 | $1,217,500 | $872,000 |
| 4 | $1,410,000 | $990,000 |
| Insight | Preston | Metro comparison |
|---|---|---|
| Clearance rate | 67.1% | 68.8% |
| Days on market | 36.5 | 42 |
Rental data
Median weekly rent
$700
Rental yield
2.9%
Metro Melbourne Comparison
$580
3.1%
| Bedrooms | Preston | Metro comparison |
|---|---|---|
| 2 | $600 | $600 |
| 3 | $720 | $560 |
| 4 | $915 | $600 |
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