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Prahran, VIC 3181

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Prahran, VIC 3181 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Prahran, VIC 3181”

  1. The total adult population (15 years or older) of Prahran 3181 VIC is 11,139, with a median age of 34. Of those, 25.55% are married, 9.88% are divorced or separated, 61.42% are single and 3.19% are widowed.

    The average household size is 1.8 people per dwelling, and the median household monthly income is estimated to be $12,744. The median monthly mortgage repayment for households in this suburb is $2,274 which is 17.84% of their earnings.

    Source: ABS Census Data (2021)

  2. The trendy suburb of Prahran, postcode 3181, located in Victoria, VIC, comprises an estimated 9542 households. As per statistics for Q3 of 2023, typical house price in Prahran 3181 is formidable $1.48 million AUD. Meanwhile, the median weekly rent sits comfortably at $897. These figures combined indicate an attractive yield of roughly 3.14%—a valuable find for cash flow-focused investors.

    Prahran’s IRSAD score boasts a healthy at 1129 out of a possible 1217, indicating that its residents enjoy relatively high socio-economic advantages, including access to economic resources and high income levels.

    However, the renter to property owner ratio is 54%, tipping the scale towards a market with a more significant rental property presence. The units to houses ratio gives a similar story at 61%, showing an over-supply of units, which may lead to competition among landlords which tend keeping rents and property values suppressed.

    The suburb’s affordability index stands at a considerable 46 years, signifying slightly limited affordability when it comes to owning a house.

    Supply indicators hold a favourable light. The stock on market Percentage for houses is 0.24%, painting a picture of relatively low supply. The inventory level further echoes this sentiment at a measly 0.87 months, and on top of that, there isn’t much newly approved residential building to threaten this scenario with building approvals Ratio for houses at 0.18%.

    Demand is not letting the side down, either. Houses do not seem to stick around too long with days on market for houses averaging just 24. Furthermore, the combination of extremely low vacancy rates (0.91%) and a decent buy search index of 5 suggests that this market enjoys a fairly heated level of demand.

    Investors should note that while some metrics might not align with traditional benchmarks, Prahran shines in several ways. For instance, the low supply coupled with high demand paints a highly attractive picture from an investment perspective. The IRSAD also highlights a robust local economy. Always consider trends and combining multiple factors for a holistic investment decision, such as provided by the RCS, compiled by HtAG Analytics. This Relative Composite Score amalgamates analysis from over 80 metrics.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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