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 8,756 as of November 2025. This represents an increase of 570 people (7.0%) since the 2021 Census, which reported a population of 8,186 people. The change is inferred from the estimated resident population of 8,747 in June 2024 and two validated new addresses added since the Census date. This results in a population density ratio of 3,807 persons per square kilometer, placing Carlton North - Princes Hill in the top 10% of national locations assessed by AreaSearch. The area's 7.0% growth since the census is within 1.9 percentage points of the national average (8.9%), indicating competitive growth fundamentals. Overseas migration contributed approximately 86.5% of overall population gains during recent periods, driving primary population growth in Carlton North - Princes Hill.

AreaSearch adopts 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 utilises the VIC State Government's Regional/LGA projections released in 2023, adjusting using a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Based on projected demographic shifts and the latest annual ERP population numbers, Carlton North - Princes Hill is expected to experience above median population growth. The area is projected to increase by 1,774 persons by 2041, reflecting a total gain of 20.2% over the 17 years.

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 FY21 and FY25. No approvals have been recorded so far in FY26. Despite a decline in population during this period, development activity has been adequate relative to other areas, 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, $39.8 million in commercial approvals have been registered, suggesting strong commercial development momentum. Compared to Greater Melbourne, Carlton North - Princes Hill has significantly lower building activity, which is 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 in recent periods. The level of development is also lower than the national average, reflecting market maturity and possible development constraints. New development consists of an equal split between detached dwellings and attached dwellings, creating more affordable entry points and suiting downsizers, investors, and first-home buyers.

However, new construction favours detached housing more than current patterns suggest, indicating ongoing robust demand for family homes despite increasing density pressures. With around 1291 people per approval, Carlton North - Princes Hill is a mature, established area. By 2041, the population is expected to grow by 1,765 residents according to the latest AreaSearch quarterly estimate. At current development rates, housing supply may struggle to keep pace with population growth, potentially increasing buyer competition and supporting price increases.

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 may impact this region. Notable projects include Piedimonte Supermarket Redevelopment, Edison North Fitzroy, Australian Institute for Infectious Disease (AIID), and Liverpool St. The following list details those most relevant.

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

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

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 5.9% as of September 2025, with an estimated employment growth of 4.0% over the past year.

In this period, 5,834 residents were employed while the unemployment rate was 1.3% higher than Greater Melbourne's rate of 4.7%. The workforce participation rate was 73.3%, compared to Greater Melbourne's 64.1%. Key industries for employment among residents are professional & technical, health care & social assistance, and education & training. Carlton North - Princes Hill has a particular specialization in professional & technical jobs, with an employment share of 2.0 times the regional level.

However, construction employs only 4.0% of local workers, below Greater Melbourne's 9.7%. Employment opportunities locally may be limited, as suggested by the difference between Census working population and resident population. Between September 2024 and September 2025, employment levels increased by 4.0%, while labour force grew by 4.7%, leading to a rise in unemployment rate of 0.6 percentage points. In contrast, Greater Melbourne saw employment rise by 3.0%, labour force grow by 3.3%, and unemployment increase by 0.3 percentage points. State-level data from 25-Nov-25 shows Victoria's employment grew by 1.13% year-on-year, adding 41,950 jobs, with the state unemployment rate at 4.7%. National employment forecasts from May-25 suggest growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Carlton North - Princes Hill's employment mix indicates local employment should increase by 7.3% over five years and 14.7% over ten years, though this is a simple extrapolation for illustrative purposes and does 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

Carlton North - Princes Hill SA2 had a median taxpayer income of $63,274 and an average income of $103,942 in financial year 2022. These figures are significantly higher than Greater Melbourne's median income of $54,892 and average income of $73,761. By September 2025, based on a 12.16% increase from the Wage Price Index since financial year 2022, estimated incomes would be approximately $70,968 (median) and $116,581 (average). According to census data, household, family, and personal incomes in Carlton North - Princes Hill rank between the 86th and 90th percentiles nationally. The income bracket of $1,500 - 2,999 captures 30.6% of the community's individuals (2,679), which is consistent with broader trends across the area showing 32.8% in the same category. Economic strength is evident as 39.1% of households achieve 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 had 8.1% houses and 91.9% other dwellings as of the latest Census, compared to Melbourne metro's 12.8% houses and 87.2% other dwellings. Home ownership in Carlton North - Princes Hill was 30.9%, with mortgaged dwellings at 19.4% and rented dwellings at 49.8%. The median monthly mortgage repayment was $2,600, above Melbourne metro's average of $2,326. Median weekly rent in Carlton North - Princes Hill was $541, compared to Melbourne metro's $451. 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 higher-than-average median household size

Family households account for 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 constitute 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 larger than the Greater Melbourne average of 2.0.

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, with 66.0% holding university qualifications. This figure is significantly higher than the national average of 30.4% and the Victorian average of 33.4%. The area's educational advantage is evident in various qualification types: bachelor degrees lead at 38.8%, followed by postgraduate qualifications (21.6%) and graduate diplomas (5.6%). Technical qualifications make up 14.1% of educational achievements, with advanced diplomas accounting for 7.4% and certificates for 6.7%.

Educational participation is particularly high in the area, with 27.8% of residents currently enrolled in formal education. This includes 13.7% pursuing tertiary education, 5.1% in primary education, and 4.3% in 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. These include both lightrail and bus services. There are 14 individual routes operating in the area.

Together, these routes facilitate 7,048 weekly passenger trips. The average distance from residents to their nearest transport stop is 134 meters. On average, there are 1,006 trips per day across all routes, which equates to approximately 190 weekly trips per individual stop.

The level of general health in Carlton North - Princes Hill is notably higher than the national average with both young and old age cohorts seeing low prevalence of common health conditions

Carlton North - Princes Hill shows superior health outcomes for both younger and older residents, with low prevalence of common conditions. Approximately 73% of its total population of 6,356 has private health cover, compared to Greater Melbourne's 69.8%, and the national average of 55.3%. Mental health issues affect 11.0% and asthma impacts 9.0% of residents.

69.3% report being free from medical ailments. The area has a higher proportion of seniors, at 16.4% (1,432 people), compared to Greater Melbourne's 12.1%. Health outcomes among seniors are notably strong, outperforming the general population in health metrics.

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-Primes Hill showed 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 dominant religion, comprising 28.4%. Judaism, however, was overrepresented at 1.1%, compared to 0.8% in Greater Melbourne.

In terms of ancestry, the top three groups were English (24.7%), Australian (17.9%), and Irish (12.7%). Notable divergences included Italian (8.0% vs regional 4.8%), French (0.8% vs 0.8%), and Polish (1.0% vs 0.9%).

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 (29.6%), but fewer residents aged 5-14 (5.5%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.5%. According to the 2021 Census, the area has become younger since the previous census, with its median age decreasing by 1 year to 33 from 34. Specifically, the proportion of residents aged 25-34 increased from 26.2% to 29.6%, while those aged 75-84 rose from 4.8% to 6.0%. Conversely, the proportion of residents aged 45-54 decreased from 10.5% to 8.5%, and those aged 5-14 dropped from 7.0% to 5.5%. Demographic projections suggest that Carlton North - Princes Hill's age profile will change significantly by 2041. The number of residents aged 45-54 is expected to increase substantially, rising from 741 to 1,081, an increase of 339 people (46%). Meanwhile, the number of residents aged 15-24 is projected to decrease by 17.