Carlton VIC 3053: Property Market Report & Real Estate Insights

Part of Melbourne, VIC

Carlton Real Estate Market Outlook

Thinking about buying in Carlton? Now could not be a better time, with 26853 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,001,000 with prices in this suburb ranging from $59,000 to $13,383,000. Carlton is located fairly close to the coast at just 1Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Living in Carlton

Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Carlton due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. A mix of professions and above average income earners in Carlton provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Carlton to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

Carlton is a suburb in the inner-northern region of Melbourne, Victoria. Within the Local Government Area of the City of Melbourne, Carlton is a beautiful and highly-developed municipality with a unique culture. Located right in the heart of the city, Carlton is perhaps best known for its ‘Little Italy’ district, full of stunning architecture dating back to the 1800s and beautiful gardens; it is also the site of the Royal Exhibition Building, a beautiful building built to host exhibitions in the late 19th century. Being the site of campuses for two major universities, the Australian Catholic University and RMIT, there is a high student population in Carlton.

Immediately adjacent to Melbourne’s Central Business District, Carlton is a bustling metropolitan hub full of life, education, parks, cuisine and retail. Perhaps particularly well-known is Lygon Street, a centre of Italian culture and food, a popular commercial destination for residents of Melbourne and elsewhere. Its incredibly close proximity to the centre of Melbourne, coupled with the culture, educational facilities and connections to all of Melbourne by road and rail amongst other excellent public amenities make Carlton a beautiful, convenient, sought-after place to own property.

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