A mecca of culture and creativity, Prahran offers a variety of entertainment, arts, and cultural activities.
How we are spending our money
Total local spending in Prahran remains relatively steady at $160 million for the quarter, although September spending is down compared to the same time last year.
Foot traffic has increased in the precinct since last quarter, up by more than 12 per cent on weekends, with Saturday having the highest level of foot traffic and highest spend day for the precinct.
Dining and entertainment remains strong, but shows little growth from last year. Professional services have experienced the biggest increase in spend from quarter 3 of 2022 of all of the industry categories. Vacancies have increased by 3.19 per cent since January, representing an opportunity to consider some pro-active activations.
Key economic indicators
- 12,982 people live in this precinct. Population growth is expected to grow by 1.2 per cent by 2036.
- 1,820 businesses in Prahran generated $527M in economic activity in 2021.
- The median weekly household income is $1,850.
- 34 per cent of people are aged 25 to 34, and 26 per cent are aged 35 to 44.
- Residents of Prahran spent $131.9M locally in Prahran in 2021, with visitors spending $333.1M.
Read the Place Activation Plan for Prahran or find out more about Prahran in the economic snapshot below.
Economic Snapshot
View the economic snapshot for April to June 2024 (Q2 2024) in the following image, or download the Q2 2024 Economic Snapshot(PDF, 108KB).
Pedestrian activity data current as of 1 August 2024. Source: City of Stonnington Pedestrian counter 005. Spend data current as of 1 August 2024 and is subject to revisions. Source: Spendmapp by Geografia (2024). Vacancy data current as of January 2024 - 6 monthly review. Source: Vacancy Review, prepared by E3 valuations and commissioned by City of Stonnington.
Previous Snapshots