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Sales Activity
Curious about local property values? Filter the chart to assess the volume and appreciation (including resales) trends and regional comparisons, or scroll to the map below view this information at an individual property level.
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Sales Detail
Population
Population growth drivers in Preston - West are strong compared to national averages based on AreaSearch's ranking of recent, and medium to long-term trends
Preston-West's population is approximately 13,500 as of November 2025. This figure reflects an increase of 804 people since the 2021 Census, which reported a population of 12,696. The change is inferred from ABS estimates of 13,470 in June 2024 and 59 validated new addresses since the Census date. This results in a population density ratio of 3,781 persons per square kilometer, placing Preston-West in the top 10% of national locations assessed by AreaSearch. Over the past decade, Preston-West has shown resilient growth patterns with a compound annual growth rate of 0.8%, outperforming its SA3 area. Overseas migration contributed approximately 83.2% of overall population gains during recent periods.
AreaSearch uses ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch utilises VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Based on the latest population numbers, Preston-West is forecasted to increase by 5,432 persons by 2041, recording a total gain of 40.0% over the 17-year period.
Frequently Asked Questions - Population
Development
AreaSearch analysis of residential development drivers sees Preston - West recording a relatively average level of approval activity when compared to local markets analysed countrywide
Preston-West has averaged approximately 49 new dwelling approvals annually over the past five financial years, totalling 248 homes. As of FY-26 so far, 23 approvals have been recorded. On average, 0.9 people moved to the area per year for each dwelling built between FY-21 and FY-25, indicating that new supply has kept pace with or exceeded demand. The average construction cost value of new properties is $341,000.
This financial year, there have been $7.7 million in commercial approvals, suggesting the area's residential character. Compared to Greater Melbourne, Preston-West records significantly lower building activity, at 51.0% below the regional average per person. This limited new supply generally supports stronger demand and values for established properties. New development consists of 28.0% detached houses and 72.0% attached dwellings, reflecting a trend towards denser development that appeals to downsizers, investors, and entry-level buyers. This represents a considerable change from the current housing mix, which is currently 60.0% houses. With around 293 people per dwelling approval, Preston-West shows a developing market with future projections indicating an addition of 5,402 residents by 2041.
If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.
Frequently Asked Questions - Development
Infrastructure
Preston - West has strong levels of nearby infrastructure activity, ranking in the top 30% nationally
Local infrastructure changes significantly influence regional performance. AreaSearch has identified 23 projects potentially impacting the area. Notable projects are Preston Crossing, Northland Shopping Centre Redevelopment, Preston Central Activity Centre Structure Plan, and North East Link Project. The following details those most relevant:.
Professional plan users can use the search below to filter and access additional projects.
INFRASTRUCTURE SEARCH
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Frequently Asked Questions - Infrastructure
North East Link Project
Victoria's largest road infrastructure project, part of Victoria's Big Build, valued at $26.1 billion. It completes the missing link in Melbourne's orbital freeway network with twin 6.5km tunnels connecting the M80 Ring Road at Watsonia to the Eastern Freeway at Bulleen. The project also includes M80 Ring Road Completion, Eastern Freeway Upgrades, the Eastern Busway, new green bridges, parklands and wetlands, noise walls, and 34km of walking and cycling paths. It is expected to remove 15,000 trucks from local roads daily and reduce travel times by up to 35 minutes.
Revitalising Coburg - Library and Piazza Project
Flagship project of the Coburg 2020 Structure Plan delivering a new multi-level public library, community spaces and an activated civic piazza in central Coburg. The $60-80 million project launched an international design competition in May 2025. Shortlisted teams were announced in September 2025 and the winning design is expected to be revealed in December 2025. Construction is planned to commence in 2027 for completion by late 2029.
Preston Market Precinct Redevelopment
Major redevelopment of the 5.1-hectare Preston Market precinct. Following the gazettal of Amendment C182dare in August 2023, new planning controls require the substantial retention of the existing market heritage while allowing for mixed-use development including over 1,000 new homes, retail, and commercial spaces. Medich Corporation became the sole owner in August 2025 after acquiring Salta Properties' stake.
Preston Crossing
A sustainable village-style residential development delivering up to 650 homes across multiple precincts near Bell Station. Partnership between Homes Victoria, MAB Corporation, and HousingFirst replacing 26 outdated social homes with 296 new homes including 99 social housing homes and 197 market apartments. Designed by award-winning architects including Archier, Hayball, Nightingale, Stokes Penola, and Breathe Architecture with 5-star Green Star certification, 7-star NatHERS rating, energy-efficient design featuring rooftop solar panels, zero fossil fuel reliance, community gallery (DoAble Community Art Gallery), rooftop lounge, green spaces, and landscaped gardens. Social homes completed in 2024, with remaining market homes on track for completion by late 2025. Part of the broader Northside Communities public housing renewal program providing direct access to bike paths and Bell Station.
Preston Central Activity Centre Structure Plan
Major activity centre planning initiative for Preston Central with new Activity Centre Zone, Built Form Overlay and Heritage Overlay introduced by Victorian Government in April 2025. Community-led planning enabling significant residential and commercial development, targeting at least 10,200 new homes by 2051. Features streamlined planning processes for mixed-use development closest to Preston Station and High Street services, with building heights of 4-10 storeys in the core and 3-4 storeys in surrounding catchment areas.
Northland Shopping Centre Redevelopment
Melbourne's largest single-level shopping centre with over 330 stores. Major redevelopment includes new entertainment and leisure precinct with contemporary outdoor dining area, refreshed colour palette, custom design elements, comfortable lounge areas, and kids' play zone opened in 2023. Transforming Northland into leading lifestyle destination of Melbourne's northern suburbs with anchors including Myer, Target, Kmart, HOYTS Cinema, Coles, Woolworths, Aldi and international retailers H&M, Uniqlo and Sephora.
Bell Station Precinct Development
New Bell Station with amphitheater doubling as flood basin, public art, and connection to Darebin Arts & Entertainment Centre. Part of level crossing removal project designed by Wood/Marsh.
Housing Choices Preston Development
39 one and two-bedroom apartments across five levels designed by Six Degrees architects. Affordable housing development by Housing Choices Australia.
Employment
AreaSearch assessment positions Preston - West ahead of most Australian regions for employment performance
Preston-West has an educated workforce with professional services well represented. Its unemployment rate is 3.2%, with estimated employment growth of 2.4% in the past year up to June 2025.
In this period, 8,125 residents were employed, with an unemployment rate of 3.1% compared to Greater Melbourne's 4.6%. Workforce participation was 67.8%, slightly higher than Greater Melbourne's 64.1%. Key industries include health care & social assistance, education & training, and professional & technical services. Education & training has a particularly high representation at 1.4 times the regional level, while construction is lower at 7.0% compared to the regional average of 9.7%.
Employment opportunities seem limited locally, as indicated by Census data comparing working population to resident population. Over the past year, employment increased by 2.4%, labour force grew by 1.5%, and unemployment fell by 0.9 percentage points. In contrast, Greater Melbourne saw employment growth of 3.5%, labour force growth of 4.0%, and a slight rise in unemployment. Jobs and Skills Australia's national employment forecasts from May 2025 project overall growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Preston-West's industry mix suggests local growth of approximately 6.8% over five years and 13.9% over ten years, though these are simplified extrapolations for illustrative purposes only.
Frequently Asked Questions - Employment
Income
The area exhibits notably strong income performance, ranking higher than 70% of areas assessed nationally through AreaSearch analysis
Preston - West had a median taxpayer income of $58,911 and an average income of $72,849 in the financial year 2022, according to postcode level ATO data aggregated by AreaSearch. This is higher than Greater Melbourne's median income of $54,892 and average income of $73,761 during the same period. As of September 2025, based on a 12.16% increase since financial year 2022, estimated incomes would be approximately $66,075 (median) and $81,707 (average). In Preston - West, household, family, and personal incomes clustered around the 66th percentile nationally in 2021 Census figures. Income distribution showed that 31.8% of locals (4,293 people) fell into the $1,500 - 2,999 category, similar to the broader area where 32.8% occupied this range. After housing costs, 85.0% of income remained for other expenses. The area's SEIFA income ranking placed it in the 7th decile.
Frequently Asked Questions - Income
Housing
Preston - West displays a diverse mix of dwelling types, with above-average rates of outright home ownership
Preston-West's dwelling structures, as per the latest Census data, consist of 60.2% houses and 39.8% other dwellings (semi-detached, apartments, 'other' dwellings). This is similar to Melbourne metro's structure with 60.2% houses and 39.8% other dwellings. Home ownership in Preston-West stands at 33.4%, with mortgaged dwellings at 31.7% and rented ones at 34.8%. The median monthly mortgage repayment is $2,144, higher than Melbourne metro's average of $2,000. The median weekly rent in Preston-West is $400, compared to Melbourne metro's $371. Nationally, Preston-West's mortgage repayments are higher at $2,144 against the Australian average of $1,863, while rents are also higher at $400 compared to the national figure of $375.
Frequently Asked Questions - Housing
Household Composition
Preston - West features high concentrations of group households, with a higher-than-average median household size
Family households compose 66.6% of all households, including 32.2% couples with children, 22.8% couples without children, and 10.1% single parent families. Non-family households account for 33.4%, with lone person households at 26.4% and group households comprising 7.0%. The median household size is 2.5 people, which exceeds the Greater Melbourne average of 2.4.
Frequently Asked Questions - Households
Local Schools & Education
Educational achievement in Preston - West places it within the top 10% nationally, reflecting strong academic performance and high qualification levels across the community
Preston - West's educational attainment significantly exceeds national and regional averages. Among residents aged 15 and above, 44.7% hold university qualifications, compared to 30.4% nationally and 32.8% in the SA4 region. Bachelor degrees are the most common at 28.3%, followed by postgraduate qualifications (11.4%) and graduate diplomas (5.0%). Vocational pathways account for 22.5% of qualifications, with advanced diplomas at 10.1% and certificates at 12.4%.
Educational participation is high, with 29.1% of residents currently enrolled in formal education. This includes 8.9% in primary education, 7.2% in tertiary education, and 6.6% pursuing secondary education. The area's four schools have a combined enrollment of 1,805 students. These schools focus exclusively on primary education, with secondary options available in surrounding areas. School capacity exceeds typical residential needs (13.4 places per 100 residents vs 10.2 regionally), indicating the area serves as an educational center for the broader region. Preston - West demonstrates significant socio-educational advantages and academic achievement, with an ICSEA score of 1133.
Frequently Asked Questions - Education
Schools Detail
Nearby Services & Amenities
Transport
Transport servicing is high compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility
Preston - West has 51 active public transport stops operating within its area. These include a mix of lightrail and bus services. There are 9 individual routes serving these stops, which collectively provide 4,770 weekly passenger trips.
Transport accessibility is rated as excellent, with residents typically located 181 meters from the nearest transport stop. The service frequency averages 681 trips per day across all routes, equating to approximately 93 weekly trips per individual stop.
Frequently Asked Questions - Transport
Transport Stops Detail
Health
The level of general health in Preston - West is notably higher than the national average with prevalence of common health conditions quite low across both younger and older age cohorts
Preston West demonstrates a lower prevalence of common health conditions among both younger and older age cohorts compared to Greater Melbourne. Approximately 56% (~7,560 people) of the total population has private health cover, which is higher than the 52.6% average across Greater Melbourne.
Mental health issues are the most prevalent condition, affecting 9.6% of residents, followed by asthma at 7.9%. A total of 70.4% of residents report having no medical ailments, compared to 70.2% across Greater Melbourne. The area has a senior population (aged 65 and over) of 14.3% (1,931 people), with health outcomes among seniors being above average and broadly in line with the general population's health profile.
Frequently Asked Questions - Health
Cultural Diversity
Preston - West was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics
Preston-West was found to have a higher cultural diversity than most local markets, with 30.9% of its population born overseas and 32.6% speaking a language other than English at home. Christianity is the predominant religion in Preston-West, comprising 39.9% of its population. Islam is notably overrepresented in Preston-West compared to Greater Melbourne, making up 6.1% versus 6.1%.
The top three ancestral groups based on parents' country of birth are English (18.1%), Australian (17.0%), and Italian (12.1%). Some ethnic groups show significant differences: Greeks are overrepresented at 6.0% compared to the regional average of 6.1%, Macedonians at 1.3% versus 2.1%, and Lebanese at 1.6% versus 1.8%.
Frequently Asked Questions - Diversity
Age
Preston - West's population is slightly younger than the national pattern
The median age in Preston-West is 38 years, close to Greater Melbourne's average of 37 and equivalent to Australia's median of 38. Compared to Greater Melbourne, Preston-West has a higher percentage of residents aged 45-54 (14.7%) but fewer residents aged 15-24 (10.9%). Between the 2021 Census and now, the proportion of residents aged 15-24 has increased from 10.0% to 10.9%, while the proportion of residents aged 0-4 has decreased from 5.7% to 4.7%. By 2041, Preston-West's age composition is expected to change significantly. The 45-54 age group is projected to grow by 53%, reaching 3,043 people from the current 1,984.