VIC Registered Law Firm, LEAD Conveyancing

Section 32 + Lawyer included in fixed fee.
Get a FREE quote prepared by Trinh Thai LLB

Lead Legal Services Pty Ltd (ABN 86 640 514 558)
Proud to be a registered conveyancing law firm.

Preston has one of the best residential housing areas in the whole of Australia. Of all the local suburbs in the country, Preston ranks 1919th on the list of suburbs investors are looking to invest in. The vibrant property sector has recorded a massive capital gain of 12.4% in the country, which best explains why the influx of investment into the area has been on a consistent rise in recent times. Recorded estimates show that the capital gains have not slowed down over the last 5 years but have either risen or remained constant.

Preston's median house price is $1,142,000 and averaged an increase of 5.51% a year over the last 36 months. As for the rental market, owners of rental properties have very little to complain about as they have witnessed a gross yield of rental income. Houses for rent cost $500, which reflects a percentage increase of 2.28%. So, if you are looking for properties to buy that you will eventually put up for rent in Preston, rest assured that your investment will earn you regular returns because the demand for rental properties remains relatively high. In addition, 60.2% of properties in Preston are owner-occupied, so the remaining residents in the area live in rented properties.

The dominant age group in Preston is 30-39 years, and a significant number of people within this age bracket are childless couples or young couples. So, if you are looking to buy properties in Preston, investing in family units will be a worthwhile investment.

• Preston occupies 436th spot on the list of the most active residential areas in Victoria
• The population growth is 9.8% 
• The average mortgage repayment ranges from $1800-$2399
• Preston occupies 187th position for suburbs with the highest capital gains

Buying a house in Preston is easy if you have the finances to do so; however, the tricky part is completing the documentation process. The process is called Conveyancing, and it involves the ownership transfer from the buyer to the seller. Conveyancing is the only way to legally lay claim to a property; paying for it is not enough. Even though the documentation process is very important, the unfortunate reality is that it can be a very complex process. The fortunate thing is that you don't have to do it on your own. With the help of experienced conveyancers, you can register the new property in your name without stress. An expert will help you evaluate the property, so you have all the information required to go through with the sale. After the sale is done, the expert will take it from there to complete the process. 

Preston is a suburb in Melbourne, Victoria. The actual location lies just 9 km north of Melbourne's central business district with a population of 32,851 based on 2016 census figures. With a local government office domiciled in Darebin, Preston has undergone different phases of socio-economic and developmental changes over the last 2 centuries. The modernization of Preston can be traced back to the time of Robert Hoddle, who first surveyed the land in 1837. After he was done with the survey, about 300 acres in the southern region and more than 1000 acres in the northern region were sold to developers during a period that has come to be regarded as the Land Boom of Melbourne.

From that point, the area's development began to escalate as white residents began to migrate to Preston from other parts of Australia and outside the Island. It is on record that the first white settler to reside permanently in Preston was Samuel Jeffrey, who arrived in 1841. Apparently, his arrival led to the name "Irishtown." Then in 1850, another settler by the name of Edward Wood from Sussex England opened a store by Wood Street and High Street close to the district post office. At Edward Wood's store, members of the community met to decide on the name to call the community. After much deliberation, they settled on Preston, which has remained the name of the city to date.

Suburbs close to Preston are

• Coburg
• Coburg North
• Reservoir
• Heidelberg West 
• Thornburg
• Bellfield

Like many suburbs in Victoria, Preston has its own fair share of side attractions and landmarks. Many of them are cultural and educational sites while others a leisure centers where locals and tourists can relax and have a nice time. Here are some of the best places to visit in Preston.

Preston Flea Market

The Flea Market is a part of Preston's culture, and this is where many people from within and outside Preston come to shop. You can buy several items at the Flea market, but besides shopping, you can feel the pulse of the city while interacting with members of the local community.

Coburg Ridge Cemetery

Coburg Ridge Cemetery is located on the outskirts of the town, and this is where the dead are buried. While many will feel uncomfortable visiting a cemetery, this site is highly revered in the area because it is where many of Preston's heroes are buried. Besides being a final resting place, it is also a historic landmark.

Preston Library

Preston Library houses thousands of books to keep the local population enlightened and informed. The building's Victorian architecture has stood the test of time for years, and it is a thing of pride for residents. Preston library is opened to the public 6 days a week.

Northland Shopping Malls 

The city has a few shopping centers, but Northland is one of the most popular ones around. Items can be purchased at discounted prices, but besides shopping, you can visit nearby restaurants and cafes in the area. 

Ray Braham Gardens

Ray Braham is one of the best parks in the area. It is well tended with attractive lush green fields projecting a brilliant landscape. Families enjoy a quiet time out here, and there is even a kiddies playground in the area.

Other local attractions in the area include

• J S Grey Reserve
• Preston City Oval
• Margaret Walker Reserve
• Moon Dog World
• W.K Larkins Reserve
• T.W Blake Park