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62 Gilbert Road

Preston 3072 · House · 4 bed · 2 bath · 2 car · 558 m² land · built 1962

Estimated value
$1,038,000
Valuation range
$976,000 – $1,100,000
Estimated rent
$719/wk
Gross yield
3.6%

Estimate confidence: Moderate. Modelled from suburb medians and recorded transactions — not a valuation or financial advice.

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Transaction history

DateEventMethodAmount
1 August 2022SoldAuction$960,000
1 February 2026LeasedAPU derived record$676/wk

Market context

Signals for Preston

Demand

Soft▼ falling

Confidence: Moderate

Selling times are 4.8% above the five-year norm. Latest reading 38.0 against a five-year average of 36.3.

Latest
38
12 months ago
39.33
5-year average
36.26
5-year range
26.3 – 43.0

Price Momentum

Neutral▼ falling

Confidence: Low

Annual price growth is in line with the five-year average. Latest reading 2.8 against a five-year average of 2.8.

Latest
2.78
12 months ago
2.82
5-year average
2.82
5-year range
2.1 – 3.6

Rental Conditions

Weak▲ rising

Confidence: High

Vacancy is running 25.8% above the historical average. Latest reading 1.9 against a five-year average of 1.5.

Latest
1.9
12 months ago
1.41
5-year average
1.51
5-year range
1.0 – 1.9

Rental Pressure

Soft▼ falling

Confidence: High

Rental growth is 11.4% below the five-year average. Latest reading 5.3 against a five-year average of 6.0.

Latest
5.31
12 months ago
6.28
5-year average
5.99
5-year range
5.3 – 6.7

Affordability

Firm▼ falling

Confidence: Moderate

The price-to-rent multiple sits 7.4% below its five-year average. Latest reading 27.8 against a five-year average of 30.0.

Latest
27.76
12 months ago
28.44
5-year average
29.97
5-year range
27.8 – 32.5

Supply

Weak▲ rising

Confidence: High

Advertised stock is 21.9% above the five-year average. Latest reading 235.0 against a five-year average of 192.8.

Latest
234.96
12 months ago
190.38
5-year average
192.82
5-year range
136.5 – 239.2

Comparable properties

AddressTypeBedsEstimateYield
No comparable properties tracked yet.

Local development activity

  1. Transport

    Suburban Rail Loop East

    Under construction · 2035

    Reshapes access between middle-ring employment centres and lifts development capacity around six new stations.

    Tunnelling underway between Cheltenham and Box Hill; precinct structure planning continues alongside.

  2. Transport

    Metro Tunnel precinct uplift

    Operating · Now

    New CBD-fringe stations are already redirecting rental demand and apartment supply.

    Station catchments at Parkville, Anzac and Arden are the focus of rezoning activity.

  3. Planning reform

    Activity centre rezoning program

    Announced · 2026-2028

    Higher permitted densities across dozens of centres change the medium-term apartment pipeline.

    Watch approval volumes in nominated centres for early supply signals.

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