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Preston vs Belgrave South — which is best for growth?

Same eight metrics, scored against the same benchmark, ranked against a $1.20Mbudget. Look for where one suburb is materially ahead — that's the dimension that should sway your call.

  1. Preston

    VIC · 3072
    56Average
    Median
    $985k
    5y growth
    7.0%/yr
    GrowthGrowth-led, low cashflow

  2. Belgrave South

    VIC · 3160
    58Average
    Median
    $1.09M
    5y growth
    10.4%/yr
    GrowthStable but fully priced

Metric breakdown

Each row scores 0–100 against a fixed benchmark. The leader on each row is highlighted.

Metric · weight
Preston
Belgrave South
Capital growth (5y)
weight 22%
707.0%/yr
10010.4%/yr
Rental yield
weight 13%
412.1%
432.1%
Rental demand
weight 10%
701.2%
651.4%
Population growth
weight 12%
787.8%
787.8%
Income growth
weight 12%
8822.0%
6416.0%
Construction pipeline
weight 15%
0–
0–
Affordability
weight 8%
1818% under cap
99% under cap
Supply tightening
weight 8%
90-8.0% YoY
75-5.0% YoY

Winner per dimension

Where each suburb leads the field, with the count of dimensions won.

  1. Preston

    4/8
    • Rental demand
    • Income growth
    • Affordability
    • Supply tightening

  2. Belgrave South

    2/8
    • Capital growth (5y)
    • Rental yield

Why Preston

Growth-led, low cashflow

listings tightening 8.0% YoY, incomes +22.0% (5y).

Drivers
  • Supply tightening-8.0% YoY
  • Income growth+22.0% (5y)
  • Population growth+7.8% (5y)
  • Capital growth7.0%/yr
Risks
  • Thin gross yield (2.1%)
  • No major construction project in this state

Construction ·Metro Tunnel — Parkville Station6.4 kmRecently completed · 2025

Why Belgrave South

Stable but fully priced

10.4%/yr capital growth, population +7.8% (5y).

Drivers
  • Capital growth10.4%/yr
  • Population growth+7.8% (5y)
  • Supply tightening-5.0% YoY
  • Tight rentals1.4%
Risks
  • At top of budget (91% of cap)
  • Thin gross yield (2.1%)

Construction ·Suburban Rail Loop East — Glen Waverley18.0 kmConstruction · 2035