When it comes to cool and urban Melbourne addresses, there are few, if any, suburbs that top the appeal of Prahran.
Bordered to it’s north and east by the ever-so-established suburbs of Toorak, South Yarra and Armadale, and on its south by the more edgy St Kilda and St Kilda East locales, Prahran delivers an attractive mix of the contemporary and the customary.
No better is this illustrated than in its shopping strips. Chapel Street is famous across Australia for it’s great shopping. It’s the perfect antidote for those sick of the uniformity of the ubiquitous mall – it’s left field rather than Westfield. Those looking for something different head towards the Prahran end of Chapel Street; it’s noisy, eclectic and in-your-face.
But within a stone’s throw is Greville Street; a quiet road full of charming cafes, eateries and boutiques (with the occasional more edgy record shop as well, it must be said). Then there is Prahran Market, Australia’s oldest continually running fresh food market – a charming way to while away a weekend morning.
Prahran dwellers seem content to live this double think existence, and indeed embrace it. The suburb is a magnet for the young successful and the up-and-coming professional, with ABS figures showing it has twice the proportion of 25-34 year old’s as found in the typical Victorian suburb. It helps that there are great train and tram connections to the CBD and the beach is a short jog away.
Add in some beautiful streets of older-style apartments and single fronted cottages where demand will always exceed limited supply.
It is clear why Prahran is a standout residential property investment location.