Caulfield - North

Population growth drivers in Caulfield - North are above average based on AreaSearch's ranking of recent, and medium to long-term trends

Caulfield - North's population is around 24,642 as of Nov 2025. This reflects an increase of 2,280 people since the 2021 Census, which reported a population of 22,362 people. The change was inferred from the estimated resident population of 24,499 from the ABS as of June 2024 and an additional 668 validated new addresses since the Census date. This level of population equates to a density ratio of 3,838 persons per square kilometer, placing Caulfield - North in the top 10% of national locations assessed by AreaSearch. Its 10.2% growth since the 2021 census exceeded both the SA4 region (7.1%) and the SA3 area, marking it as a growth leader in the region. Overseas migration contributed approximately 87.2% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with 2022 as the base year. For areas not covered by this data, AreaSearch utilises VIC State Government's Regional/LGA projections released in 2023, adjusted employing 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 demographic trends and the latest annual ERP population numbers, Caulfield - North is expected to expand by 6,569 persons to 2041, reflecting a gain of 26.0% in total over the 17 years.

AreaSearch assessment of residential development activity positions Caulfield - North among the top 25% of areas assessed nationwide

Caulfield - North has seen approximately 252 new homes approved annually over the past five financial years, totalling 1,261 homes. As of FY-26 so far, 18 approvals have been recorded. On average, one new resident arrives per year for each new home approved between FY-21 and FY-25, indicating a balanced supply and demand market with stable conditions. The average construction value of new properties is $370,000.

This financial year has seen $48.8 million in commercial approvals, demonstrating strong commercial development momentum. Compared to Greater Melbourne, Caulfield - North records 69.0% more construction activity per person, offering greater choice for buyers. Recent construction comprises 15.0% detached dwellings and 85.0% attached dwellings, promoting higher-density living which creates more affordable entry points suitable for downsizers, investors, and first-home buyers. This shift marks a significant departure from the current housing pattern of 37.0% houses, potentially due to diminishing developable land availability and evolving lifestyle preferences. With around 217 people per dwelling approval, Caulfield - North shows a developing market with population forecasts indicating an increase of 6,412 residents by 2041. At current development rates, new housing supply should comfortably meet demand, providing good conditions for buyers and potentially supporting growth beyond current population projections.

Population forecasts indicate Caulfield - North will gain 6,412 residents through to 2041 (from the latest AreaSearch quarterly estimate). At current development rates, new housing supply should comfortably meet demand, providing good conditions for buyers and potentially supporting growth beyond current population projections.

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

AreaSearch has identified a total of 69 projects that are likely to impact the area, with key projects including Caulfield Village - Stage 9219-229 Balaclava Road Mixed-Use Development, Caulfield Plaza Redevelopment, and Caulfield Village. The following list details those projects most likely to be relevant.

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

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Despite maintaining a low unemployment rate of 4.0%, Caulfield - North has experienced recent job losses, resulting in a below average employment performance ranking when compared nationally

Caulfield - North has a highly educated workforce with strong representation in professional services. Its unemployment rate is 4.0%.

Over the past year, employment remained relatively stable. As of September 2025, 14,069 residents are employed, with an unemployment rate of 4.7% compared to Greater Melbourne's 4.0%. Workforce participation is standard at 66.2%. Dominant sectors include professional & technical, health care & social assistance, and education & training.

The area specializes in professional & technical services, with employment share being 1.6 times the regional level. Construction has limited presence, at 5.2% compared to 9.7% regionally. Employment opportunities locally appear limited based on Census data comparison of working population vs resident population. From September 2024 to September 2025, labour force increased by 0.7%, while employment declined by 0.1%, resulting in a rise in unemployment rate by 0.8 percentage points. Greater Melbourne recorded employment growth of 3.0% and labour force growth of 3.3%. By November 25, Victoria's employment grew year-on-year by 1.13% (adding 41,950 jobs), with an unemployment rate of 4.7%, compared to the national rate of 4.3%. Job forecasts from May-25 suggest national employment will expand by 6.6% over five years and 13.7% over ten years. Applying these projections to Caulfield - North's employment mix, local employment is expected to increase by 7.4% over five years and 14.9% over ten years.

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 2022 shows that Caulfield - North SA2 has one of the highest incomes nationally. The median income is $65,088 and the average income stands at $115,033. This contrasts with Greater Melbourne's median income of $54,892 and average income of $73,761. Based on Wage Price Index growth of 12.16% since financial year 2022, current estimates suggest the median income is approximately $73,003 and the average income is around $129,021 as of September 2025. Census data indicates that household, family and personal incomes in Caulfield - North rank highly nationally, between the 77th and 86th percentiles. Income distribution shows that 28.4% of the population (6,998 individuals) fall within the $1,500 to $2,999 income range, similar to the surrounding region where 32.8% occupy this bracket. Notably, a substantial proportion of high earners (36.4%) have incomes above $3,000 per week, indicating strong economic capacity throughout Caulfield - North. High housing costs consume 15.2% of income, however, strong earnings still place disposable income at the 77th percentile nationally. The area's SEIFA income ranking places it in the 9th decile.

Caulfield - North displays a diverse mix of dwelling types, with a higher proportion of rental properties than the broader region

Caulfield - North's dwelling structures, as per the latest Census, consisted of 36.8% houses and 63.2% other dwellings (semi-detached, apartments, 'other' dwellings), compared to Melbourne metro's 47.8% houses and 52.1% other dwellings. Home ownership in Caulfield - North was 31.8%, with mortgaged dwellings at 27.3% and rented dwellings at 40.9%. The median monthly mortgage repayment in the area was $2,500, higher than Melbourne metro's average of $2,396. The median weekly rent figure in Caulfield - North was $426, compared to Melbourne metro's $435. Nationally, Caulfield - North's median monthly mortgage repayments were significantly higher at $2,500 versus the Australian average of $1,863, and rents were substantially higher at $426 compared to the national figure of $375.

Caulfield - North features high concentrations of group households and lone person households, with a lower-than-average median household size

Family households constitute 62.5% of all households, including 28.1% couples with children, 27.0% couples without children, and 6.5% single parent families. Non-family households account for the remaining 37.5%, with lone person households at 30.8% and group households comprising 6.7%. The median household size is 2.4 people, which is smaller than the Greater Melbourne average of 2.5.

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

Educational attainment in Caulfield - North is notably high, with 56.5% of residents aged 15 years and over holding university qualifications. This compares favourably to the national average of 30.4% and the Victorian average of 33.4%. The area's educational advantage is evident in its Bachelor degree holders (36.1%), postgraduate qualifications (15.8%), and graduate diplomas (4.6%). Vocational pathways are also well-represented, with advanced diplomas at 9.7% and certificates at 8.8% among residents aged 15 years and over.

Educational participation is high, with 33.6% of residents currently enrolled in formal education. This includes 10.3% in tertiary education, 9.0% in primary education, and 7.8% pursuing secondary education.

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

The analysis of public transport in Caulfield - North shows that there are 108 active transport stops operating. These include a mix of train, light rail, and bus services. The area is served by 23 individual routes which collectively provide 10,920 weekly passenger trips.

Transport accessibility is rated as excellent with residents typically located 175 meters from the nearest transport stop. Service frequency averages 1,560 trips per day across all routes, equating to approximately 101 weekly trips per individual stop.

Caulfield - North's residents are extremely healthy with very low prevalence of common health conditions across all age groups

Analysis of health metrics indicates robust performance in Caulfield - North, with a low prevalence of common health conditions across all age groups. The rate of private health cover is exceptionally high at approximately 78% of the total population (19,097 people), compared to 65.2% across Greater Melbourne and the national average of 55.3%. Mental health issues and asthma are the most common medical conditions in the area, impacting 7.3% and 6.5% of residents respectively.

A total of 74.6% of residents declare themselves completely clear of medical ailments, compared to 74.0% across Greater Melbourne. The area has 17.4% of residents aged 65 and over (4,277 people). Health outcomes among seniors are particularly strong, broadly aligning with the general population's health profile.

Caulfield - North was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Caulfield-North has a notable cultural diversity, with 26.9% of its residents speaking a language other than English at home and 36.4% being born overseas. The dominant religion in Caulfield-North is Judaism, comprising 45.0% of the population, significantly higher than Greater Melbourne's average of 17.5%. In terms of ancestry, the top three groups are Other (22.4%), Australian (19.1%), and English (15.2%).

Notably, Polish (6.8%) is overrepresented compared to the regional average of 3.1%, Russian (2.5%) slightly exceeds the regional figure of 2.2%, and South African (2.2%) also surpasses the regional average of 1.4%.

Caulfield - North's population is younger than the national pattern

Caulfield-North's median age in 2021 was 35 years, which is slightly younger than Greater Melbourne's 37 and the national average of 38. The 15-24 age group constituted 15.9% of Caulfield-North's population compared to Greater Melbourne, while the 35-44 cohort made up 12.4%. Between 2016 and 2021, the proportion of the 15-24 age group grew from 13.1% to 15.9%, and the 75-84 age group increased from 4.7% to 6.0%. Conversely, the 65-74 cohort decreased from 10.0% to 8.7%. By 2041, population forecasts indicate that Caulfield-North's 45-54 age cohort is projected to increase by 1,077 people (40%), from 2,710 to 3,788.