Thinking about buying in Prahran? Now could not be a better time, with 11472 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,434,000 with prices in this suburb ranging from $27,000 to $22,556,000. Prahran is located fairly close to the coast at just 1Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.
Median Weekly Rent | $451.96 |
Median Monthly Mortgage | $2444.73 |
Median Persons Per Bedroom | 0.91 |
Average Household Size | 1.94 |
Average Age | 35.69 |
Average Income | $1350.81 |
Average Cars Per Dwelling | 1.15 |
Average Properties Within 50M | 105 |
1 Bed  $497,000 |
2 Bed  $1,247,000 |
3 Bed  $2,648,000 |
4 Bed  $3,995,000 |
5 Bed  $4,450,000 |
6 Bed+$6,129,000 |
Consistent high demand relative to supply is a key feature in Prahran driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Prahran ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Prahran classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. Medium density in Prahran necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.
Our Lady of Lourdes School
The King David School
Victorian College For The Deaf
Wesley College
Loreto Mandeville Hall
St Mary's School
Christian Brothers' College
Toorak Primary School
South Yarra Primary School
Armadale Primary School
(While the above schools are located with the suburb of Prahran there may also be nearby schools whose catchments cover this suburb)Incidents Trend State Average
(mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
---|---|---|---|---|---|---|---|
Jan | 1.5 | 16.4 | 27.0 | 42.8 | 86.8 | 2.9 | 23.8 |
Feb | 1.0 | 15.9 | 25.8 | 44.4 | 86.5 | 2.7 | 20.3 |
Mar | 1.1 | 14.5 | 24.1 | 45.4 | 88.1 | 2.5 | 15.6 |
Apr | 2.0 | 12.1 | 20.8 | 48.0 | 90.9 | 2.4 | 10.6 |
May | 1.6 | 10.0 | 17.7 | 52.3 | 89.4 | 2.9 | 7.8 |
Jun | 1.3 | 7.7 | 15.0 | 59.8 | 93.7 | 2.5 | 6.9 |
Jul | 1.3 | 7.8 | 14.4 | 56.9 | 89.5 | 3.3 | 7.4 |
Aug | 1.6 | 7.8 | 15.1 | 51.2 | 89.3 | 3.0 | 10.0 |
Sept | 1.4 | 9.3 | 17.7 | 46.1 | 88.9 | 3.1 | 14.0 |
Oct | 1.4 | 11.1 | 21.1 | 42.8 | 89.3 | 3.2 | 18.3 |
Nov | 1.8 | 12.5 | 22.4 | 43.4 | 88.6 | 2.9 | 20.8 |
Dec | 2.0 | 14.6 | 24.8 | 43.5 | 88.6 | 2.8 | 24.0 |
source: Australian Government Bureau of Meteorology
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