Preston

Preston, VIC 3072, with a population of 33,790, exhibits steady population growth over the years. The suburb has a diverse demographic profile, with a significant number of residents aged between 20 to 44 years. The majority of residents commute by motor vehicle, and there is a notable proportion who work from home (WFH). Educational facilities in the area rank high on the ICSEA percentile, indicating an advantage for students attending government schools. For house investors, Preston may be ideal for renovation opportunities given the high saleprice IQR ratio and moderately low days on market. With a sale price median growth over 10 years at 49.0%, it has shown consistent growth. The suburb presents good prospects for unit investors as well, with a high yield median and significant market absorption rate, suggesting high demand. There is potential for renting out rooms due to a high room demand-supply ratio. Preston, VIC 3072, offers residents a vibrant community with diverse demographics and a strong focus on education. For property investors, the suburb provides promising opportunities in both the house and unit market segments, whether aiming for long-term growth or rental yields. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022