Carlton North

POSTAL CODE: VIC, 3054

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 6.97% capital gain.

It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,765,000

The augmented property values in the suburb are trailing above the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $825.

Home owners selling their properties and realtors in CARLTON NORTH usually have to wait an average of 81.6 days days before their assets are lifted off the market.

The VIC suburb ranks 516th on the list of best yielding suburbs for rental properties in VIC, posting a 2.43% return.

It also places places 285th in Australia based on median property value growth during the quarter.

Property investors enjoyed capital gains of 19.39% over the last 12 months in CARLTON NORTH, translating to lower returns compared with its peers in VIC.

A survey of average capital gains or median home price increase in suburbs across the country shows that CARLTON NORTH, 3054 obtained a 5.41% growth over a ten-year period. It ranks 847th on our list of suburbs that property investors should look into.

CARLTON NORTH, 3054 has a capital gain of 19.39% for the past year, which is higher than average compared to its 8.8% growth within a five-year period.

With the median home price in CARLTON NORTH sitting at $825,000, and the average rent at $625, property owners could potentially earn a 3.94% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in CARLTON NORTH are high, as opposed to average gains per annum over the past five years.

CARLTON NORTH, 3054 in VIC belongs to the local government area of Yarra.

Surburb overview

Carlton North, located approximately 4 kilometres north of Melbourne's Central Business District (CBD), is an inner-city suburb known for its Victorian-era architecture, vibrant community, and green spaces. According to the 2021 census, it has a population of 6,177 residents.

The suburb attracts diverse residents, including young professionals, families, and students, primarily due to its proximity to universities and the CBD. The predominant age group is 20-39 years.

Carlton North offers various housing options, from historic Victorian terraces to modern apartments. As of recent data, the median property price for a house is approximately $1,800,000, with an annual capital growth of 5.5%. Rental yields for houses are currently around 2.5%, with an average median rent of $850 per week.

The suburb is well-served by public transportation. Multiple tram lines run through Carlton North, providing easy access to the CBD and surrounding areas. The nearby Royal Park and Jewell railway stations also offer train services to various parts of Melbourne.

Carlton North is home to several educational institutions, including Princes Hill Primary School and Princes Hill Secondary College. The University of Melbourne is also nearby, attracting a significant student population.

The suburb boasts a vibrant community with numerous cafes, restaurants, and boutique shops, particularly along Rathdowne Street and Nicholson Street. Cultural attractions include the Melbourne General Cemetery and the Princes Park, which contains the Princes Park Football Ground. The suburb's parks and green spaces provide residents ample outdoor and recreational opportunities.

Carlton North offers a unique blend of historic charm and modern urban living, making it a highly sought-after location for many residents.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,765,000	$825,000
Growth Report
Median Quarterly	2.32%	24.06%
Median 12 month	12.06%	19.39%
Median 3 years	6.97%	18.96%
Median 5 years	16.12%	8.8%
10 years average annual	4.62%	5.41%
Weekly media advert. rent	$825	$625
Time on Market	81.6 days	N/A
Gross Rental Yield Percent	2.43%	3.94%

Demographics (Median Values)*

Total Population 8428

Weekly Household Income 1991

Household Size 2.30

Average Age 33

Monthly Loan Repayment 2167

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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