The median house price in Preston in 2026 is $1,180,000. The median unit price is $524,000. Preston represents the most affordable entry point into the inner-north corridor, with units at sub-$550,000 delivering some of Melbourne’s best yield for the location.
Preston Price by Segment
| Property Type | Median Price | Yield | Notes |
|---|---|---|---|
| House | $1,180,000 | 3.6% | Solid capital growth play |
| Unit (1bed) | $380,000 | 5.6% | Highest yield in inner-north |
| Unit (2bed) | $524,000 | 5.1% | Best risk-adjusted return |
| Block of units | $1,800,000+ | 5.8% | Portfolio play |
Why Preston Units Are the Contrarian Opportunity
Unit transaction volumes in Preston dropped 19.4% in 2025-2026 while rental vacancy stayed below 1.5%. This disconnect — falling buyer competition, holding rents — is the classic setup for a yield investor. Access Preston off-market listings through the Collings property portal.
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