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

Based on AreaSearch's analysis, Carlton North - Princes Hill's population is around 8,765 as of Feb 2026. This reflects an increase of 579 people (7.1%) since the 2021 Census, which reported a population of 8,186 people. The change is inferred from the estimated resident population of 8,747 from the ABS as of June 2024 and an additional 2 validated new addresses since the Census date. This population level equates to a density ratio of 3,810 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Carlton North - Princes Hill's 7.1% growth since the census positions it within 2.8 percentage points of the national average (9.9%), demonstrating competitive growth fundamentals. Population growth for the area was primarily driven by overseas migration, which contributed approximately 86.5% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, AreaSearch is utilising the VIC State Government's Regional/LGA projections released in 2023, with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. Anticipating future population dynamics, an above-median population growth of statistical areas across the nation is projected, with the area expected to expand by 1,774 persons to 2041 based on the latest annual ERP population numbers, reflecting an increase of 20.0% in total 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 recorded around 4 residential properties granted approval per year, with 22 homes approved over the past 5 financial years (between FY-21 and FY-25) and 0 so far in FY-26. Given population has fallen over the past period, housing supply has remained adequate relative to demand, creating a well-balanced market with good buyer choice, while new dwellings are developed at an average construction cost of $1,104,000, revealing that developers are targeting the premium market segment with higher-end properties. Additionally, $39.8 million in commercial approvals have been registered this financial year, indicating strong commercial development momentum.

Relative to Greater Melbourne, Carlton North - Princes Hill records markedly lower building activity (93.0% below regional average per person). This scarcity of new homes typically strengthens demand and prices for existing properties, though development activity has picked up in recent periods. This activity is also below average nationally, reflecting the area's maturity and pointing to possible planning constraints. Recent construction comprises 50.0% detached dwellings and 50.0% townhouses or apartments. This trend toward denser development provides accessible entry options and appeals to downsizers, investors, and entry-level buyers. Notably, developers are constructing more detached housing than the existing pattern implies (8.0% at Census), reflecting persistent strong demand for family homes amid 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 expected to grow by 1,756 residents through to 2041 (from 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

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total 15 projects have been identified by AreaSearch that are likely to have an impact on the area. Key projects include Piedimonte Supermarket Redevelopment, Brenan Place, Edison North Fitzroy, and Liverpool St, with the list below detailing those likely to be of most relevance.

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 features a highly educated workforce, with the technology sector a particular standout in terms of representation, an unemployment rate of 6.0%, and 3.9% in estimated employment growth over the past year. As of December 2025, 5,882 residents are in work while the unemployment rate is 1.3% above Greater Melbourne's rate of 4.8%, and workforce participation is well beyond standard (79.1% compared to Greater Melbourne's 71.3%). Based on Census responses, a high 52.6% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

Employment among residents is concentrated in professional & technical, health care & social assistance, and education & training. The area demonstrates a particularly notable concentration in professional & technical, with employment levels at 2.0 times the regional average. Meanwhile, construction has a limited presence with 4.0% employment compared to 9.7% regionally. The predominantly residential area appears to offer limited employment opportunities locally, as indicated by the count of the Census working population versus the resident population.

Based on AreaSearch analysis of SALM and ABS data, over the 12 months to December 2025, employment increased by 3.9% while the labour force increased by 4.5%, causing the unemployment rate to rise by 0.5 percentage points. By comparison, Greater Melbourne recorded employment growth of 2.4%, labour force growth of 2.8%, with unemployment rising 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Carlton North - Princes Hill. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Carlton North - Princes Hill's employment mix suggests local employment should increase by 7.3% over five years and 14.7% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

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

As per AreaSearch's latest postcode level ATO data released for FY-23, the Carlton North - Princes Hill SA2's median income among taxpayers is $64,947, with an average of $105,729. This is exceptionally high nationally, and compares to Greater Melbourne's median of $57,688 and average of $75,164. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $70,305 (median) and $114,452 (average) as of September 2025. Census data reveals household, family and personal incomes all rank highly in Carlton North - Princes Hill, between the 86th and 90th percentiles nationally. Looking at income distribution, 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

Dwelling structure within Carlton North - Princes Hill, as evaluated at the latest Census, comprised 8.1% houses and 91.9% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Melbourne metro's 67.9% houses and 32.1% other dwellings. Meanwhile, the level of home ownership within Carlton North - Princes Hill was in line with that of Melbourne metro, at 30.9%, with the remainder of dwellings either mortgaged (19.4%) or rented (49.8%). The median monthly mortgage repayment in the area was well above the Melbourne metro average at $2,600, while the median weekly rent figure was recorded at $541, compared to Melbourne metro's $2,000 and $390. Nationally, Carlton North - Princes Hill's mortgage repayments are significantly higher than the Australian average of $1,863, while rents are 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 dominate at 56.0% of all households, comprising 18.2% couples with children, 29.5% couples without children, and 6.5% single parent families. Non-family households make up the remaining 44.0%, with lone person households at 28.3% and group households comprising 15.7% of the total. The median household size of 2.3 people 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

Educational attainment in Carlton North - Princes Hill significantly surpasses broader benchmarks, with 66.0% of residents aged 15+ holding university qualifications compared to 30.4% in Australia and 33.4% in VIC. This substantial educational advantage positions the area strongly for knowledge-based opportunities. Bachelor degrees lead at 38.8%, followed by postgraduate qualifications (21.6%) and graduate diplomas (5.6%). Technical qualifications represent 14.1% of educational achievements for residents aged 15+ – advanced diplomas (7.4%) and certificates (6.7%).

Educational participation is notably 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

Public transport analysis reveals 37 active transport stops operating within Carlton North - Princes Hill, comprising a mix of light rail and buses. These stops are serviced by 11 individual routes, collectively providing 9,411 weekly passenger trips. Transport accessibility is rated as excellent, with residents typically located 134 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 49%, with 14% cycling and 13% walking. Vehicle ownership averages 0.7 per dwelling, below the regional average. A high 52.6% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Service frequency averages 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

Health outcomes data demonstrates outstanding results across Carlton North - Princes Hill, based on AreaSearch's assessment of mortality rates and chronic condition prevalence. There is a very low prevalence of common health conditions across all age groups, and the rate of private health cover is exceptionally high at approximately 73% of the total population (6,407 people). This compares to 56.7% across Greater Melbourne and a national average of 55.7%.

The most common medical conditions in the area are mental health issues and asthma, impacting 11.0% and 9.0% of residents, respectively, while 69.3% declared themselves as completely clear of medical ailments compared to 72.6% across Greater Melbourne. 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.

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 is above average in terms of cultural diversity, with 23.4% of its population born overseas and 14.8% speaking a language other than English at home. The main religion in Carlton North - Princes Hill is Christianity, which makes up 28.4% of the population. However, the most apparent overrepresentation is in Judaism, which comprises 1.1% of the population, compared to 1.0% across Greater Melbourne.

In terms of ancestry (country of birth of parents), the top three represented groups in Carlton North - Princes Hill are English, comprising 24.7% of the population, Australian, comprising 17.9% of the population, and Irish, comprising 12.7% of the population, which is substantially higher than the regional average of 6.5%. Additionally, there are notable divergences in the representation of other ethnic groups: Italian is overrepresented at 8.0% in Carlton North - Princes Hill (vs 5.2% regionally), French at 0.8% (vs 0.5%), and Polish at 1.0% (vs 0.8%).

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

With a median age of 33, Carlton North - Princes Hill is materially younger than the Greater Melbourne figure of 37 and is substantially under Australia's 38 years. Relative to Greater Melbourne, Carlton North - Princes Hill has a higher concentration of 25 - 34 residents (29.5%) but fewer 5 - 14 year-olds (5.5%). This 25 - 34 concentration is well above the national 14.4%. Since the 2021 Census, the 25 to 34 age group has grown from 26.2% to 29.5% of the population, while the 75 to 84 cohort increased from 4.8% to 6.4%. Conversely, the 45 to 54 cohort has declined from 10.5% to 8.5% and the 35 to 44 group dropped from 13.6% to 12.0%. Population forecasts for 2041 indicate substantial demographic changes for Carlton North - Princes Hill. The 45 to 54 cohort shows the strongest projected growth at 46%, adding 338 residents to reach 1,081. On the other hand, the 15 to 24 group will contract by 10 residents.