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City of Darebin
Preston West

Preston West Property Market
& Suburb Profile

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MEDIAN PRICES IN PRESTON WEST

Median house price

(all agencies, last 12 months)$1.2m*

House price change

(all agencies, last 12 months)+2.56%

Median unit price

(all agencies, last 12 months)$580k*

Unit price change

(all agencies, last 12 months)-3.41%

(Median House Price and Median Unit Price is calculated based on sales of properties with all numbers of bedrooms)

PRESTON WEST PRICE TRACKER

HousesUnits

PRESTON WEST SALES OVERVIEW

  • Sold by Auction 63%
  • Sold by Private Sale or Other Method 37%
  • (Based on Sales Reported in the Last 12 Months)

Average days on market (houses)

(all agencies, 12 months)26

Average days on market (units)

(all agencies, 12 months)28

Auction clearance rate in Preston West

(all agencies, last 12 months)66%

Average held period in Preston West

(proptrack)13 years

PRESTON WEST INVESTOR STATISTICS

Median rental price for Houses

(all agencies, last 12 months)$747pw

House rental price change

(all agencies, last 12 months)0.11%

Median rental price for Units

(all agencies, last 12 months)$556pw

Unit rental price change

(all agencies, last 12 months)0.04%

Average rental yield for Houses

(all agencies, last 12 months)3.22%

Average rental yield for Units

(all agencies, last 12 months)4.74%

Preston West total population size

(as at the last census)33,790

Median household size in Preston West

(as at the last census)2.4

(Median House Price and Median Unit Price is calculated based on leased properties with all numbers of bedrooms)

PRESTON WEST PROPERTY TYPES

  • Houses 28%
  • Units 38%
  • Other 34%

OCCUPANCY IN PRESTON WEST

  • Owned 57%
  • Rented 40%
  • Other/Not Stated 3%
  • Singles 30%
  • Families 62%
  • Other 8%

CURIOUS TO KNOW WHAT YOUR PROPERTY IS WORTH TODAY?

Request a free price evaluation from our experienced team

ABOUT PRESTON WEST

Preston West represents a sophisticated balance between Melbourne’s heritage charm and its modern urban evolution.

Located just a short distance from the bustling Preston Market and the High Street precinct, this pocket is defined by its wide, tree-lined streets and a noticeably quieter, more residential atmosphere. It is a neighborhood where classic California Bungalows and mid-century weatherboards sit alongside thoughtful contemporary architecture, attracting a community of growing families and professionals who value both aesthetic character and long-term stability.

The lifestyle here is centered around a unique blend of nature and convenience. Residents benefit from immediate access to the Merri Creek trail and HP Zwar Park, offering a scenic escape for recreation and wellness right on their doorstep. While the area maintains a peaceful, village-like feel, it is incredibly well-connected by the Gilbert Road tram and nearby rail links, ensuring the city is always within reach.

Local independent cafés and hidden brunch spots provide a more intimate alternative to the busier commercial strips, fostering a tight-knit community spirit that has made Preston West one of the most resilient and sought-after real estate markets in the northern suburbs.

Education

St Raphael's School
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PRESTON WEST MARKET INSIGHTS

YearProperties SoldMedian Sale Price
(All Residential)
Sales Growth YoYProperties LeasedMedian Rental Price
(All Residential)
Rental Yield
20260-no change0$0pw%
2025893$880,0002.56%1119$652pw3.98%
2024778$870,0000.66%1138$600pw3.84%
2023702$836,2504.01%1156$576pw3.76%
2022636$846,250-8.45%1646$505pw3.36%
YearSoldMedian Sale Price
(All Residential)
Sales Growth YoY
20260-no change
2025893$880,000+2.56%
2024778$870,000+0.66%
2023702$836,250+4.01%
2022636$846,250-8.45%

YearLeasedMedian Rental Price
(All Residential)
Rental Yield
20260$0pw%
20251119$652pw3.98%
20241138$600pw3.84%
20231156$576pw3.76%
20221646$505pw3.36%

PROUDLY SERVICING Preston West

Barry Plant
Northcote - Preston

NEWS & INSIGHTS

Icing on the Cupcake

Is Your Property Storm-Ready? A Guide to Roof Care

Smart, Simple, Local: See Every Suburb in a New Light with Barry Plant

*The State of Victoria owns the copyright in the property sales data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth).The State of Victoria does not warrant the accuracy or completeness of the licensed material and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.

This information is supplied by Barry Plant Group Pty Ltd (ABN 96 088 069 952) on behalf of PropTrack Pty Ltd (ABN 43 127 386 298).

The 12 month data in this report is from 31 December 2024 to 31 December 2025, last updated 31 December 2025.