Preston (Vic.)
VICPreston (Vic.) is a growing suburb in VIC with 33,790 residents.
- SAL code
- 22121
- SA2
- 209021428
- Population
- 33,790
Preston (Vic.), VIC had 33,790 residents at the 2021 Census, with the broader statistical area showing a 7.6% growth over the last five years. The predominant age group is 25-34 years, and the median age sits at 37. Households are most often couples with children, and those with a mortgage repay a median of $2,000 a month. Around 57.3% of homes are owner-occupied, with the largest single tenure being rented at 40.1%. Most dwellings are separate houses, making up 56.3% of the suburb's housing stock. The suburb has 32 parks and reserves mapped within its boundary. Source: ABS Census 2021 and Estimated Resident Population, with amenity counts from state Open Data and OpenStreetMap.
Suburb analysis
Preston (Vic.), VIC at a glance
Preston is an inner-north Melbourne suburb ~9 km from the CBD in the City of Darebin. The fabric mixes interwar weatherboards, post-war brick, and a fast-growing band of mid-rise apartments along High Street and around Preston Market. The data tiles below cover the demographic baseline; this card adds the live market, lifestyle, and council context they don't.
For homebuyers
Preston suits people who want inner-north access without Northcote or Fitzroy pricing. The High Street strip from Bell to Murray Road is the spine — Preston Market for fresh produce and food traders, Northland Shopping Centre a short drive east, and a thickening line of cafes, breweries, and Lebanese and Vietnamese eateries reflecting the suburb's long migrant layers. Three Mernda-line stations (Bell, Preston, Regent) put you 15-20 minutes from Flinders Street, and the Route 11 and 86 trams run High Street and Plenty Road. Edwardes Lake Park and Darebin Creek Trail anchor the green space. Preston Primary, Preston West Primary, and Preston High School (reopened 2019) cover the local catchment; Parade College and Santa Maria are nearby private options. In short: an established, multicultural inner-north suburb that's gentrifying around the market and station precincts while keeping its working-suburb roots.
For investors
Preston runs a classic inner-Melbourne profile — strong tenant demand, modest yield, slow grind growth. Median house sale ~$1.13m against ~$650/week rent gives a ~2.99% gross yield; units ~$540k at ~$520/week deliver ~5.00% (Your Investment Property May 2026). 12-month house growth +3.8%, quarterly +1.1%. Around 280 house sales and 410 unit sales in the past year, with days-on-market sitting near 35 (houses) and 42 (units) per Domain April 2026.
Strengths
- Three train stations on the Mernda line plus High Street trams — proven inner-north transit pull (~9 km to CBD).
- Unit yield ~5.0% is unusually competitive for a sub-10 km Melbourne suburb (Your Investment Property May 2026).
- Preston Market redevelopment is locking in a long-term lifestyle anchor rather than removing it.
- Deep multicultural retail and food economy on High Street keeps tenant demand broad across age and income bands.
Trade-offs
- House gross yield ~3.0% is thin — this is a growth and land-value play, not cashflow.
- Heavy apartment pipeline along High Street and around the market precinct could continue to weigh on unit growth into 2027.
- Days-on-market ~35-42 is longer than Melbourne's hotter inner-north pockets (Domain April 2026), so liquidity is moderate.
- Older housing stock on smaller lots means renovation or rebuild capex is a real line item, not optional.
What's coming
Darebin Council's 2025/26 Capital Works program continues the High Street streetscape and Edwardes Lake Park upgrades, with ongoing investment in shared paths along Darebin Creek. The Preston Market Precinct redevelopment (state-led, retaining the trader market) is the headline structure-plan project, alongside continued mid-rise approvals around Bell and Preston stations.
Bottom line
For homebuyers: an established inner-north suburb with strong transit, food, and park access at a discount to its trendier neighbours. For investors: a growth-and-land play with workable unit yield but house cashflow that needs equity, not rent, to do the heavy lifting.
Population
?33,790
Suburb · Census 2021
5-Year Growth
+7.6%
3yr: +11.2% · 10yr: +13.6%
SA2 · 5yr
Household Income
$1,844/wk
Suburb · Census 2021 median
Median Age
37
Suburb · Census 2021
Socio-Economic Index
?5/10
SA2 · middle-range
Unemployment
?5.4%
SA2 · Q4 2025
Schools
9
7 primary, 3 secondary
Hospitals
No data for this suburb
Childcare services
?28
18 long day, 9 OSHC, 1 family
Parks & green space
?32
Parks, reserves
Transport stops
?199
GTFS stops
Dwelling approvals
No data for this suburb
Median Weekly Rent
Based on rental bond lodgements recorded by the state government.
Median House Sale Price
Source: Valuer-General Victoria (suburb-level quarterly medians).
→ Calculate stamp duty on this suburb's median price→ Estimate mortgage repayments→ Calculate rental yield (price + median rent)
Safety & Crime
2025 Q4Reported incidents from VIC police. Offence rates may not reflect all crime.
Population over time — Preston - East (SA2)
ABS publishes annual estimates only at SA2; Preston (Vic.) suburb alone is ~33,790 (Census 2021).
Source: ABS ERP (latest release · 2025) · Census 2021. Numbers refreshed quarterly.
Growth at a Glance
Population grew from 16,709 to 23,403 over 24 years, averaging 1.4% per year.
Schools
12 in suburbSector
8 public · 4 private
Type
8 primary · 2 secondary · 2 K-12
Total enrolment
6,310
Avg per school
526
Government school catchment
Catchment data is not yet available for VIC.
Source when available: Victorian Department of Education / Vicmap School Zones.
Profile
Census snapshot
Housing
Public housing 4.5%Predominantly detached houses (56.3%), mixed tenure (57.3% own or mortgage).
Dwelling mix
Tenure
VIC 29%
Number of bedrooms
Bushfire risk
This suburb falls outside every bushfire polygon mapped by the relevant authority. Always confirm at the property address — local conditions and unmapped overlays can still apply.
Overlap is the percentage of the suburb's land area inside the mapped bushfire polygons. Always verify the exact property address with the relevant authority before making decisions. Source when available: Vicmap Planning — Bushfire Prone Area + Vicmap flood overlays.
Flood risk
Source: VIC DTP Vicmap Planning Overlay (flood codes)
As of Apr 2026
Overlap is the percentage of the suburb's land area inside the mapped flood polygons. Always verify the exact property address with the relevant authority before making decisions.
Planning zones
25 zones in suburb| Code | Zone | % covered | Area |
|---|---|---|---|
| GRZ2 | General Residential Zone Schedule 2Residential | 27.3% | 3.11 km² |
| HCTZ2 | HCTZ2Other | 21.4% | 2.44 km² |
| HCTZ1 | HCTZ1Other | 7.9% | 0.90 km² |
| IN3Z | Industrial 3 ZoneIndustrial | 6.1% | 0.69 km² |
| IN1Z | Industrial 1 ZoneIndustrial | 5.6% | 0.64 km² |
| PPRZ | Public Park and Recreation ZoneRecreation | 4.2% | 0.48 km² |
| C1Z | Commercial 1 ZoneBusiness | 4.1% | 0.47 km² |
| TRZ2 | TRZ2Special use | 4.0% | 0.45 km² |
| PUZ2 | Public Use Zone Schedule 2Special use | 2.7% | 0.31 km² |
| ACZ2 | Activity Centre Zone Schedule 2Business | 2.6% | 0.29 km² |
| NRZ1 | Neighbourhood Residential Zone Schedule 1Residential | 2.3% | 0.26 km² |
| GRZ1 | General Residential Zone Schedule 1Residential | 1.8% | 0.21 km² |
| C2Z | Commercial 2 ZoneBusiness | 1.8% | 0.20 km² |
| TRZ1 | TRZ1Special use | 1.5% | 0.17 km² |
| TRZ3 | TRZ3Special use | 1.5% | 0.17 km² |
| PUZ5 | Public Use Zone Schedule 5Special use | 0.9% | 0.10 km² |
| MUZ1 | Mixed Use Zone Schedule 1Residential | 0.9% | 0.10 km² |
| RGZ1 | Residential Growth Zone Schedule 1Residential | 0.8% | 0.09 km² |
| RGZ2 | Residential Growth Zone Schedule 2Residential | 0.5% | 0.06 km² |
| ACZ1 | Activity Centre Zone Schedule 1Business | 0.5% | 0.06 km² |
| RGZ5 | Residential Growth Zone Schedule 5Residential | 0.5% | 0.05 km² |
| PUZ1 | Public Use Zone Schedule 1Special use | 0.3% | 0.04 km² |
| PDZ2 | Priority Development Zone Schedule 2Business | 0.3% | 0.03 km² |
| MUZ | Mixed Use ZoneResidential | 0.2% | 0.03 km² |
| RGZ3 | Residential Growth Zone Schedule 3Residential | 0.2% | 0.02 km² |
Source: VIC DTP Vicmap Planning Zones (ZONE_VIC/2026-04-29/08783d2926383881) · As of Apr 2026. Zone boundaries are amended periodically; verify the exact property with the relevant council before relying on permitted use.