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 was around 8,765 as of Feb 2026. This showed an increase of 579 people since the 2021 Census, which reported a population of 8,186. The change was inferred from ABS estimated resident population of 8,747 in June 2024 and two validated new addresses since the Census date. The population density was 3,810 persons per square kilometer, placing it in the upper quartile nationally according to AreaSearch's assessment. Since the census, Carlton North - Princes Hill's growth of 7.1% was within 2.8 percentage points of the national average (9.9%). Population growth was primarily driven by overseas migration contributing approximately 86.5% of overall population gains during recent periods.

AreaSearch adopted ABS/Geoscience Australia projections released in 2024 with a base year of 2022 for each SA2 area, and VIC State Government's Regional/LGA projections released in 2023 for areas not covered by this data. Population growth rates by age group were applied across all areas for years 2032 to 2041. Based on the latest annual ERP population numbers, Carlton North - Princes Hill is projected to expand by 1,774 persons by 2041, reflecting a total increase of 20.0% over the 17-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 recorded approximately four residential properties granted approval annually. Over the past five financial years, from FY21 to FY25, 22 homes were approved, with none yet approved in FY26. Despite a decline in population during this period, housing supply has remained adequate relative to demand, resulting in a balanced market with good buyer choice.

The average expected construction cost of new dwellings is $1,104,000, indicating developers are targeting the premium market segment with higher-end properties. This financial year, $39.8 million in commercial approvals have been 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 homes typically strengthens demand and prices for existing properties, though development activity has increased recently. Recent construction comprises 50.0% detached dwellings and 50.0% townhouses or apartments, reflecting a trend towards denser development that caters to downsizers, investors, and entry-level buyers. Notably, developers are constructing more detached housing than the existing pattern implies (8.0% at Census), likely due to persistent strong demand for family homes despite densification trends.

With around 1291 people per dwelling approval, Carlton North - Princes Hill reflects a highly mature market. Looking ahead, Carlton North - Princes Hill is projected to grow by 1,756 residents by 2041, according to the latest AreaSearch quarterly estimate. If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.

Carlton North - Princes Hill has strong levels of nearby infrastructure activity, ranking in the top 40% nationally

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified 15 projects that could impact the area. Notable ones are Piedimonte Supermarket Redevelopment, Brenan Place, Edison North Fitzroy, and Liverpool St. The following details projects likely to be 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 notable representation in the technology sector. Its unemployment rate is 5.9%, having seen an estimated employment growth of 4.0% over the past year (as of September 2025). There are 5,834 residents employed currently, with an unemployment rate of 1.3% higher than Greater Melbourne's rate of 4.7%.

Workforce participation is high at 78.4%, compared to Greater Melbourne's 71.0%. According to Census responses, 52.6% of residents work from home, potentially influenced by Covid-19 lockdowns. Employment is concentrated in professional & technical (twice the regional average), health care & social assistance, and education & training sectors. Construction has limited presence with only 4.0% employment compared to the regional average of 9.7%.

The area offers limited local employment opportunities as indicated by the Census working population vs resident population count. Over the year ending September 2025, employment increased by 4.0%, while labour force grew by 4.7%, causing unemployment to rise by 0.6 percentage points. Greater Melbourne recorded lower growth rates with employment increasing by 3.0% and unemployment rising by 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 suggest potential future demand within Carlton North - Princes Hill. Applying these projections to the local employment mix indicates a potential increase of 7.3% over five years and 14.7% over ten years, though these are simple extrapolations for illustrative purposes only and do not account for localized population projections.

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

AreaSearch's latest postcode level ATO data for financial year 2023 shows Carlton North - Princes Hill SA2 had a median income of $64,947 and an average income of $105,729. Nationally, these figures are exceptionally high, compared to Greater Melbourne's median of $57,688 and average of $75,164. Based on Wage Price Index growth of 8.25% since financial year 2023, current estimates for September 2025 would be approximately $70,305 (median) and $114,452 (average). Census data reveals household, family and personal incomes all rank highly in Carlton North - Princes Hill, between the 86th and 90th percentiles nationally. Income distribution shows that 30.6% of the population (2,682 individuals) fall within the $1,500 - $2,999 income range, aligning with the surrounding region where this cohort likewise represents 32.8%. A significant 39.1% earn above $3,000 weekly, reflecting pockets of prosperity that drive robust local economic activity. High housing costs consume 16.4% of income, though strong earnings still place disposable income at the 84th percentile and 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 had 8.1% houses and 91.9% other dwellings in the latest Census, compared to Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership was 30.9%, 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 $2,000. Median weekly rent was $541, compared to Melbourne metro's $390. Nationally, mortgage repayments were significantly higher at $1,863 and rents 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 at 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 notably high level of educational attainment among its residents aged 15 and above. As of the latest data, 66.0% hold university qualifications, which is significantly higher than the Australian average of 30.4% and the Victorian average of 33.4%. This gives the area a substantial educational advantage. Bachelor degrees are the most common at 38.8%, followed by postgraduate qualifications at 21.6%, and graduate diplomas at 5.6%.

Technical qualifications make up 14.1% of educational achievements, with advanced diplomas at 7.4% and certificates at 6.7%. Educational participation is also high in the area, 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, together facilitating 9,411 weekly passenger trips. Residents enjoy excellent transport accessibility, with an average distance of 134 meters to the nearest stop. The area is predominantly residential, with most commuters travelling outward. Cars remain the primary mode of transport at 49%, followed by cycling at 14% and walking at 13%. Vehicle ownership stands at 0.7 per dwelling, lower than the regional average.

According to the 2021 Census, a significant 52.6% of residents work from home, which may be influenced by COVID-19 conditions. The service frequency averages 1,344 trips per day across all routes, translating to approximately 254 weekly trips per 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 of mortality rates and chronic condition prevalence, with very low prevalence of common health conditions across all age groups (AreaSearch, 2021). The rate of private health cover is exceptionally high at approximately 73% of the total population (6,407 people), compared to 56.7% across Greater Melbourne and the national average of 55.7%. Mental health issues impacted 11.0% of residents, while asthma affected 9.0%, with 69.3% declaring themselves completely clear of medical ailments, compared to 72.6% across Greater Melbourne (AreaSearch, 2021).

The under-65 population demonstrates better than average health outcomes. The area has 16.9% of residents aged 65 and over (1,477 people), which is higher than the 15.1% in Greater Melbourne. Health outcomes among seniors are particularly strong, with national rankings broadly in line with the general population (AreaSearch, 2021).

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 June-August 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, comprising 28.4%. Judaism, at 1.1%, was slightly higher than Greater Melbourne's 1.0%.

In terms of ancestry, the top groups were English (24.7%), Australian (17.9%), and Irish (12.7%), notably higher than regional averages. Italian (8.0%) and French (0.8%) were overrepresented compared to regional figures of 5.2% and 0.5%, respectively, while Polish was marginally higher at 1.0%.

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 (29.5%), but fewer residents aged 5-14 (5.5%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.4%. Between the 2021 Census and the current period, the proportion of residents aged 25 to 34 has increased from 26.2% to 29.5%, while those aged 75 to 84 have risen from 4.8% to 6.4%. Conversely, the proportion of residents aged 45 to 54 has decreased from 10.5% to 8.5%, and those aged 35 to 44 have dropped from 13.6% to 12.0%. Looking ahead to 2041, population forecasts indicate substantial demographic changes for Carlton North - Princes Hill. The 45-54 age group is projected to grow by 46%, adding 338 residents to reach a total of 1,081. Conversely, the 15-24 age group is expected to decrease by 10 residents.