APD Research Memo
Preston
Stable · Moderate confidence · Strong evidence · 30 August 2026
Conditions read as stable on median rent at $724 against a $631 historical average; median house value at $1,044,982 against a $980,281 historical average; price-to-rent multiple at 28 against a 30 historical average; sales volume at 107 against a 88 historical average.
APD View — Preston
Preston: conditions stable
Current data indicates conditions in Preston are stable. 14 indicators across 5 analytical dimensions inform this reading, with 36% pointing the same way.
Direction
Stable
Confidence
Moderate
Evidence strength
Strong
Direction describes where underlying conditions are moving. It is not a rating, a recommendation or a signal to transact — a market can be improving while remaining expensive, low-yielding or supply-exposed.
Why this confidence — Based on 14 indicators, 60 months of history, 36% of indicators pointing the same way, latest data 29 days old.
Evidence basis — Based on 14 indicators, 1 independent source, 60 months of history. Latest data 29 days old.
What changed
| Indicator | Now | 1 month | 1 quarter |
|---|---|---|---|
| Days on market | 38 days | 40 days | 40 days |
| Rental growth | 5.3% | 5.6% | 5.6% |
| Population growth | 1.7% | 1.7% | 1.8% |
| Sales volume | 106.8 | 105.99 | 104.71 |
| Vendor discounting | -4.0% | -4.1% | -4.0% |
| 12-month price growth | 2.8% | 2.9% | 2.7% |
| Auction clearance | 64.1% | 63.3% | 64.9% |
| Median rent | $724 | $722 | $715 |
What supports this view
- Median rent — $724 against a historical average of $631. Advertised rents sit above the historical average for this market. Historical percentile: 98.
- Median house value — $1,044,982 against a historical average of $980,281. House values sit above the historical average for this market. Historical percentile: 97.
- Price-to-rent multiple — 27.76 against a historical average of 29.97. Prices are low relative to rents compared with the historical average. Historical percentile: 0.
- Sales volume — 106.8 against a historical average of 87.5. Transaction volumes are running above the historical average. Historical percentile: 92.
- Vendor discounting — -4.0% against a historical average of -3.6%. Sellers are accepting smaller reductions than normal. Historical percentile: 10.
What works against it
- Rental growth argues the other way — Rental growth reads 5.3% against a 6.0% historical average (0th percentile), which works against the current reading.
- Building approvals argues the other way — Building approvals reads 59 against a 45 historical average (95th percentile), which works against the current reading.
- Vacancy rate argues the other way — Vacancy rate reads 1.9% against a 1.5% historical average (92th percentile), which works against the current reading.
- Advertised listings argues the other way — Advertised listings reads 235 against a 193 historical average (92th percentile), which works against the current reading.
- Rental growth — 5.3%. Rental growth is running below its historical average. Historical percentile: 0.
- Building approvals — 58.74. Dwelling approvals are running above the historical average, pointing to more future supply. Historical percentile: 95.
- Vacancy rate — 1.9%. Rental availability is looser than the historical norm. Historical percentile: 92.
- Advertised listings — 234.96. Advertised stock is above the historical average. Historical percentile: 92.
This memo is research, not personal advice, and does not take your circumstances into account. It describes the direction of underlying conditions on the evidence available and states what would change that conclusion. Methodology · Markets we're watching