Carlton North - Princes Hill

Carlton North - Princes Hill is positioned among the lower quartile of areas assessed nationally for population growth based on AreaSearch's assessment of recent, and medium term trends

Carlton North - Princes Hill's population is approximately 8,828 as of May 2026. This figure represents an increase of 642 people since the 2021 Census, which recorded a population of 8,186. The change is inferred from ABS data showing an estimated resident population of 8,828 in June 2025 and three validated new addresses since the Census date. This results in a population density ratio of 3,838 persons per square kilometer, placing Carlton North - Princes Hill in the top 10% of national locations assessed by AreaSearch. The area's population growth of 7.8% since the census is within 1.5 percentage points of Victoria's state average of 9.3%, indicating strong growth fundamentals. Overseas migration contributed approximately 87.6% of overall population gains in recent periods.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch employs the VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Based on these projections, Carlton North - Princes Hill is expected to experience above median population growth, with an increase of 1,716 persons projected by 2041, reflecting a total gain of 19.4% over the 16-year period.

The level of residential development activity in Carlton North - Princes Hill is very low in comparison to the average area assessed nationally by AreaSearch

Carlton North - Princes Hill has seen approximately four new homes approved annually over the past five financial years, with 22 homes approved between FY-21 and FY-25. No approvals have been recorded so far in FY-26. Despite a decline in population during this period, development activity has been relatively adequate, which is positive for buyers.

The average expected construction cost of new properties is $1,104,000, indicating that developers are targeting the premium market segment with higher-end properties. This financial year has seen $39.8 million in commercial approvals registered, suggesting strong commercial development momentum. Compared to Greater Melbourne, Carlton North - Princes Hill records significantly lower building activity, at 93.0% below the regional average per person. This scarcity of new properties typically strengthens demand and prices for existing properties, although development activity has increased recently. New development consists of an equal split between detached dwellings (50%) and attached dwellings (50%), promoting higher-density living to suit downsizers, investors, and first-home buyers. However, current construction favours detached housing more than recent patterns suggest, demonstrating ongoing robust demand for family homes despite increasing density pressures.

Carlton North - Princes Hill has a population density of around 1291 people per approval, indicating a mature, established area. By 2041, the area is expected to grow by approximately 1716 residents. At current development rates, housing supply may struggle to keep pace with population growth, potentially intensifying buyer competition and supporting price increases.

Carlton North - Princes Hill has strong levels of nearby infrastructure activity, ranking in the top 30% nationally

The performance of an area can significantly be influenced by changes in local infrastructure, major projects, and planning initiatives. AreaSearch has identified a total of 15 such projects that are expected to impact the area. Notable among these are Piedimonte Supermarket Redevelopment, Edison North Fitzroy, Liverpool St Fitzroy North, and M205 Carlton Water Main Renewal. The following list details those projects considered most relevant.

Professional plan users can use the search below to filter and access additional projects.

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Carlton North - Princes Hill has seen below average employment performance when compared to national benchmarks

Carlton North - Princes Hill has a highly educated workforce with significant representation in the technology sector. Its unemployment rate was 6.0% as of December 2025, with an estimated employment growth of 3.9% over the past year. In this period, 5,882 residents were employed while the unemployment rate was 1.3% higher than Greater Melbourne's rate of 4.8%.

Workforce participation in Carlton North - Princes Hill was 78.2%, compared to Greater Melbourne's 69.9%. According to Census responses, 52.6% of residents worked from home, potentially influenced by Covid-19 lockdowns. The key industries for employment among Carlton North - Princes Hill residents are professional & technical, health care & social assistance, and education & training. Notably, professional & technical services employ twice the proportion of workers compared to the regional level (2.0 times).

Conversely, construction employs only 4.0% of local workers, lower than Greater Melbourne's 9.7%. Employment levels in Carlton North - Princes Hill increased by 3.9% during the year to December 2025, with a corresponding labour force increase of 4.5%. This resulted in an unemployment rate rise of 0.5 percentage points. In comparison, Greater Melbourne saw employment and labour force growth rates of 2.4% and 2.8%, respectively, with an unemployment rate rise of 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 project a 6.6% expansion over five years and 13.7% over ten years. Applying these projections to Carlton North - Princes Hill's employment mix suggests local employment could increase by 7.3% over five years and 14.7% over ten years, assuming constant population projections for illustrative purposes.

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

Carlton North - Princes Hill SA2 had a median taxpayer income of $64,947 and an average income of $105,729 in financial year 2023, according to postcode level ATO data aggregated by AreaSearch. Nationally, these figures are exceptionally high, contrasting with Greater Melbourne's median income of $57,688 and average income of $75,164. By March 2026, estimates suggest the median income would be approximately $71,195 and the average income $115,900, based on Wage Price Index growth of 9.62% since financial year 2023. Census data shows household, family, and personal incomes in Carlton North - Princes Hill rank highly nationally, between the 86th and 90th percentiles. The $1,500 - 2,999 earnings band captures 30.6% of the community (2,701 individuals), consistent with broader trends across the broader area showing 32.8% in the same category. Economic strength is evident through 39.1% of households achieving high weekly earnings exceeding $3,000, supporting elevated consumer spending. High housing costs consume 16.4% of income, but strong earnings place disposable income at the 84th percentile nationally. The area's SEIFA income ranking places it in the 9th decile.

Carlton North - Princes Hill displays a diverse mix of dwelling types, with above-average rates of outright home ownership

Carlton North - Princes Hill's dwelling structure, as per the latest Census, consisted of 8.1% houses and 91.9% other dwellings (semi-detached, apartments, 'other' dwellings). This contrasts with Melbourne metro's figures of 67.9% houses and 32.1% other dwellings. Home ownership in Carlton North - Princes Hill stood at 30.9%, similar to Melbourne metro, with mortgaged dwellings at 19.4% and rented ones at 49.8%. The median monthly mortgage repayment was $2,600, higher than Melbourne metro's average of $2,000. Median weekly rent in the area was $541, compared to Melbourne metro's $390. Nationally, Carlton North - Princes Hill's mortgage repayments were significantly higher at $2,600 versus Australia's average of $1,863, and rents were substantially above the national figure of $375.

Carlton North - Princes Hill features high concentrations of group households, with a lower-than-average median household size

Family households constitute 56.0% of all households, including 18.2% couples with children, 29.5% couples without children, and 6.5% single parent families. Non-family households account for the remaining 44.0%, with lone person households making up 28.3% and group households comprising 15.7%. The median household size is 2.3 people, which is smaller than the Greater Melbourne average of 2.6.

Carlton North - Princes Hill shows strong educational performance, ranking in the upper quartile nationally when assessed across multiple qualification and achievement indicators

Carlton North - Princes Hill has a notable educational advantage with 66.0% of residents aged 15+ holding university qualifications, surpassing the Australian average of 30.4% and the Victorian average of 33.4%. The area's educational attainment is led by bachelor degrees at 38.8%, followed by postgraduate qualifications at 21.6% and graduate diplomas at 5.6%. Technical qualifications represent 14.1% of achievements, with advanced diplomas accounting for 7.4% and certificates for 6.7%. Educational participation is high, with 27.8% of residents currently enrolled in formal education.

This includes 13.7% in tertiary education, 5.1% in primary education, and 4.3% pursuing secondary education.

Transport servicing is high compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Carlton North - Princes Hill has 37 active public transport stops offering a mix of light rail and bus services. These stops are served by 11 different routes, collectively facilitating 9,411 weekly passenger trips. Transport accessibility is rated excellent with residents typically located 134 meters from the nearest stop. As a predominantly residential area, most residents commute outward using various modes of transport. Cars remain the primary mode at 49%, followed by cycling at 14% and walking at 13%. The average vehicle ownership per dwelling is 0.7, lower than the regional average.

According to the 2021 Census, a high 52.6% of residents work from home, which may be influenced by COVID-19 conditions. On average, there are 1,344 trips per day across all routes, equating to approximately 254 weekly trips per individual stop.

Carlton North - Princes Hill's residents boast exceedingly positive health performance metrics with very low prevalence of common health conditions across all age groups

Carlton North - Princes Hill demonstrates excellent health outcomes based on AreaSearch's assessment. Mortality rates and chronic condition prevalence are very low across all age groups. Private health cover is exceptionally high at approximately 73% of the total population (6,453 people), compared to 56.7% in Greater Melbourne and a national average of 55.7%.

The most common medical conditions are mental health issues affecting 11.0% of residents and asthma impacting 9.0%. Notably, 69.3% of residents declare themselves completely clear of medical ailments, compared to 72.6% in Greater Melbourne. The under-65 population has better than average health outcomes. The area has 16.2% of residents aged 65 and over (1,431 people), higher than the 15.0% in Greater Melbourne. Health outcomes among seniors are strong, with national rankings broadly in line with the general population.

The level of cultural diversity witnessed in Carlton North - Princes Hill was found to be slightly above average when compared nationally for a number of language and cultural background related metrics

Carlton North-Princes Hill, surveyed in September 2016, exhibited above-average cultural diversity with 23.4% of its population born overseas and 14.8% speaking a language other than English at home. Christianity was the predominant religion, accounting for 28.4%. Judaism, however, showed significant overrepresentation at 1.1%, compared to Greater Melbourne's 1.0%.

The top three ancestry groups were English (24.7%), Australian (17.9%), and Irish (12.7%), the latter being substantially higher than the regional average of 6.5%. Notable divergences included Italian (8.0% vs regional 5.2%), French (0.8% vs 0.5%), and Polish (1.0% vs 0.8%).

Carlton North - Princes Hill hosts a young demographic, positioning it in the bottom quartile nationwide

Carlton North - Princes Hill has a median age of 33, which is younger than Greater Melbourne's figure of 37 and Australia's national average of 38 years. Compared to Greater Melbourne, Carlton North - Princes Hill has a higher proportion of residents aged 25-34 (30.6%), but fewer residents aged 5-14 (5.5%). This concentration of 25-34 year-olds is notably higher than the national average of 14.6%. Between the censuses of 2021 and 2026, the median age in Carlton North - Princes Hill dropped by 1.3 years to 33 from 34. During this period, the proportion of residents aged 25-34 increased from 26.2% to 30.6%, while those aged 75-84 rose from 4.8% to 6.2%. Conversely, the proportion of residents aged 45-54 decreased from 10.5% to 8.3%, and those aged 5-14 dropped from 7.0% to 5.5%. By 2041, demographic modeling suggests that Carlton North - Princes Hill's age profile will change significantly. The number of residents aged 45-54 is projected to increase by 332 people (45%), rising from 733 to 1,066. Meanwhile, the number of residents aged 15-24 is expected to decrease.