An eclectic suburb offering a vibrant lifestyle for singles and families

Preston could best be described as a hidden gem. Just 9km from the city, the suburb offers a blend of old-world charm and contemporary amenities.

View Bank Homes has been building homes in Melbourne’s north for over 25 years. We believe finding the right suburb is just as important as finding the right home. So, we’ve pulled the data on living in Preston to give you an overview of this suburb.

Preston by the numbers

Median house price: $1,005,250, Average rent: $475pw
Median unit price: $525,000, Average rent: $400pw

Annual growth: 10.6%

Population: 32,851


Easy living just 9km from the city

Preston and surrounds have a long history with the first post office opening in 1856. Thanks to its fertile soil, the region was originally used for farming, dairying and market gardens, supplying food to the inner Melbourne residents for the early part of the 20th century.

As the bounds of the city expanded outwards during the post-WW2 boom, Preston experienced rapid growth. The affordability of the suburb attracted young families of all backgrounds and this history is reflected in the multicultural mix of the suburb.

The suburb continues to have a reputation as an eclectic and multicultural area, embracing many diverse cultures and backgrounds. Today you’ll find a mix of California bungalows alongside modern townhouse developments.

Preston is serviced by the Mernda train line which runs between St Georges Road and High Street, offering easy access to the city for commuters. Plenty of bus and tram lines make it easy to get to neighbouring suburbs.

The area is also close to East Link, and Melbourne Airport is an easy 20-minute drive away.

Inner city location at an affordable price

While Preston is no longer the bargain suburb it once was, it still offers relative affordability, particularly when compared to the neighbouring suburbs of Northcote and Thornbury. This has made the suburb popular with families looking to enjoy a more casual lifestyle. On weekends you’ll often find families walking their dogs along the picturesque Darebin Creek or shopping at the vibrant Preston Market.

If you’re more of a night owl, there’s plenty going on in Preston to keep your social calendar full. Thanks to the plethora of young creatives that have made the area home, Preston has a thriving music and arts scene. From weekly live music at The Stolberg to the annual Darebin Music Feast, which is a week-long event held in October that brings together a rich and diverse collection of music acts.

A food lovers paradise

Preston is a great place for foodies no matter what your taste and budget. Food options are varied thanks to a multicultural population: you’ll find Greek delis alongside Indian sweet shops and more noodle joints than you can count. And weekends aren’t complete without a visit to the Preston Market. This constantly evolving market offers a diverse mix of fresh food along with a varied array of fashion and homewares.

Preston Suburb Profile - View Bank Homes

The cheap and cheerful High Street eateries are popular with budget-conscious students and young professionals. There’s also a thriving cafe scene with new places popping up regularly serving quality coffee alongside delicious brunch fare. Preston has also welcomed in some higher-fare restaurants in the past year, serving up the kind of food more likely found in Flinders Lane than High Street.

It’s clear that Preston is quickly evolving from its sedate vibe to a contemporary suburb offering a number of lifestyle options for professional singles and families.

EIGHTY, 80 Jensen Road, Preston - View Bank Homes - new townhouse development

Convenience and lifestyle in one

Our new townhouse development, EIGHTY, is located in Preston, walking distance to Northland Shopping Centre, the largest retail shopping area in Melbourne’s northern suburbs. The area offers a wealth of shopping options, from supermarkets and discount stores through to furniture and other speciality shops. You’ll also find a large cinema and plenty of places to relax with a coffee.

EIGHTY presents five boutique townhouses suited to couples and families. The architecturally-designed homes offer generous living areas in a stylish surround. At View Bank Homes, we build move-in ready homes for modern lifestyles. What you see is what you get with no hidden fees.

Find out more about EIGHTY by viewing our latest townhouse developments, or download our guide to find out why moving to the Melbourne’s north is a great decision.