Property types in Preston

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The area currently known as Preston was originally discovered in 1837 by a man named Robert Hoddle who named this location Irishtown. He then partitioned the land into 300 and 1,000 acre lots during the famous Melbourne land boom of the late 1830s. From 1841, residents began to trickle in and such local amenities as a general store and a primary school were soon opened. This influx of residents was further helped by the gold rush that occurred in Victoria during the middle part of the 19th century. A church was also soon formed and the congregation decided to change the name from Irishtown to Preston.

Although Preston remained heavily reliant in agriculture, it began to become more urbanised as residents of Melbourne spread out to surrounding suburbs during the 1920s. However, the worldwide depression of the 1930s brought a considerable amount of economic hardship on to Preston and surrounding areas. Interestingly enough, Preston seemed to have emerged from this protracted rather unscathed; adding a staggering forty per cent to its population by the end of the Second World War. This growth has allowed Preston to boast a population of nearly thirty thousand inhabitants and this figure is likewise expected to accelerate into the future.

Currently, Preston can be seen to exhibit three types of real estate markets. East Preston is thought to be the lowest income area in the town; less ornate streets and smaller houses tend to dominate. South Preston is considered to be a more alternative and eclectic neighbourhood. West Preston is by far thought to be the most upscale and desirable portion of the city; well-maintained streets, large tracts of land and Victorian houses defining the area. From this perspective, Preston does indeed represent a lucrative real estate market and will continue to reflect such a status well into the 218stn century.
Average price in Preston
sale 
$834,643
Average price per  m2  $3,445
See the stats for properties on sale in Preston ►
rent 
$23,750
Average price per  m2  $81.23
See the stats for rental properties in Preston ►
Properties for sale
Properties for rent
Regions near to Preston
Properties for sale in Preston
Superb Opportunity In The Heart Of Preston
 1
Superb Opportunity In The Heart Of Preston
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Preston, Victoria - For Sale - Townhouse - 2 bedrooms - 2 bathrooms
Style townhouses are located in preston central. Close proximity to northern melbourne institute of tafe, preston and bell stations, iconic preston market, gilbert road...
Invest Or Occupy In The Heart Of Preston
 1
Invest Or Occupy In The Heart Of Preston
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Preston, Victoria - For Sale - Apartment - 1 bedroom - 1 bathroom
And prime location with the best of preston virtually at your doorstep. Impressive interior... Including trains and trams, high street cafes, boutique shops and renowned preston...
Brand New In The Heart Of Preston
 1
Brand New In The Heart Of Preston
UPCOMING AUCTION
Preston, Victoria - For Sale - House - 3 bedrooms - 2 bathrooms
With walking distance to bell and preston railway stations, melbourne polytechnic, several prestigious local schools buzzing local restaurants/cafes and the iconic preston market for your...
Rgz1 721sqm Approx. Prime Corner Site With 3 Street Frontage
 1
Rgz1 721sqm Approx. Prime Corner Site With 3 Street Frontage
Sale
Preston, Victoria - For Sale - House - 6 bedrooms - 2 bathrooms
With 3 street frontage positioned in the heart of bustling preston. Tram at your door, preston market, high street activity centre and preston's trendy cafes...
An Icon Of Preston Sophistication!
 1
An Icon Of Preston Sophistication!
$540,000 - $590,000
Preston, Victoria - For Sale - Townhouse - 2 bedrooms - 2 bathrooms
2 - 4:30pm at ray white preston - 363 high street. Townhouse 3 & 4 available... Your dream entry into booming preston. With a selection of cutting-edge two-bedroom...