Clifton Hill, situated approximately four kilometers northeast of Melbourne's central business district, is a charming inner-city suburb known for its leafy streets, heritage architecture, and vibrant community atmosphere.
Historically, Clifton Hill was part of the traditional lands of the Wurundjeri people before European settlement. The area underwent rapid urbanization in the late 19th century, with the construction of Victorian-era homes and industrial developments.
An interesting fact about Clifton Hill is that it was once home to the largest brickworks in the southern hemisphere.
Over the past decades, house prices in Clifton Hill have experienced substantial growth, driven by its proximity to the city and lifestyle appeal.
Lifestyle
Clifton Hill boasts several reserves and green spaces, including Darling Gardens and Quarries Park, providing residents with tranquil settings for picnics, leisurely walks, and outdoor activities.
The suburb's proximity to the Yarra River and Merri Creek offers opportunities for cycling, running, and exploring nature trails. Coffee and café culture thrive in Clifton Hill, with popular establishments dotted along Queens Parade and Smith Street.
Residents also enjoy dining at diverse restaurants, browsing local boutiques, and attending community events and festivals hosted by the suburb.
Pets are popular among Clifton Hill residents, with many enjoying the pet-friendly parks and walking tracks.
School Zones
Public primary schools in Clifton Hill include Clifton Hill Primary School and Spensley Street Primary School, while St John's Primary School serves the Catholic community.
Fitzroy High School and Collingwood College cater to secondary education needs. Exclusive independent private schools popular among affluent families include Scotch College and Melbourne Girls Grammar.
The closest school for students with special needs is Fitzroy Community School in neighboring Fitzroy.
Demographics
According to ABS census data, the median weekly household income in Clifton Hill has shown steady growth from 2006 to 2021, reflecting the suburb's increasing prosperity rising from $1,550 to $2,755
Families constitute a significant percentage of the population, with a diverse mix of demographics including professionals, families, and students.
Major cultural ethnicities in Clifton Hill include Anglo-Australian, European, and Asian communities. The average income in Clifton Hill compares favorably to the Australian average.
Employment
A notable percentage of Clifton Hill residents are professionals and managerial employees, according to the 2021 ABS census and make up close to 60% of the employed population.
The suburb's main employers include industries such as education, healthcare, hospitality, and professional services.
While many residents work locally, others commute to nearby employment hubs such as Melbourne CBD, Collingwood, and Fitzroy.
Transport
Clifton Hill offers convenient access to public transportation, including main bus routes along Queens Parade and Hoddle Street, connecting to Melbourne CBD and surrounding suburbs.
The suburb is serviced by Clifton Hill train station, providing access to the metropolitan train network. Bicycle paths and pedestrian-friendly streets encourage active transportation.
While public transport is popular, private transport options are also available, with major roads like Hoddle Street and Alexandra Parade providing easy access to Melbourne's arterial network.
Shopping Centre's, Restaurants & Facilities
Clifton Hill and nearby Fitzroy North offer a diverse range of shopping options, restaurants, and cultural facilities.
The suburb boasts a high walk score, with many amenities within walking distance. Residents dine at popular cafes and restaurants, enjoy recreational activities at local parks and sporting facilities, and frequent social clubs and community centers.
Unique to Clifton Hill is its proximity to the Collingwood Children's Farm, offering residents access to farm animals and agricultural activities.
Development
Clifton Hill features a mix of housing options, including Victorian-era homes, modern apartments, and townhouses.
The suburb experiences ongoing development, with new residential projects and infrastructure upgrades enhancing its appeal.
While knock-down rebuilds and renovations are common, strict heritage regulations preserve the suburb's character and architectural heritage.
Limited subdivision opportunities exist due to Clifton Hill's established urban layout.
Capital Growth
Data from property sources like CoreLogic indicates that Clifton Hill has experienced strong capital growth for houses, townhouses, and units over the years. Clifton Hill is one of the most consistent performers for capital growth in houses, performing at 9.5% on average. Better pockets generally do 13%.
Townhouses and units generally perform at 6% and 5% capital growth.
Factors driving capital growth include the suburb's proximity to Melbourne CBD, desirable lifestyle amenities, and heritage charm. The suburb's limited housing supply and high demand contribute to its appeal among buyers and investors.
Cash Flow
Clifton Hill offers attractive cash flow for houses, townhouses, and units, with steady rental yields appealing to investors. Houses yield 3%, townhouses and units generally yield 4%.
Over the past decade, cash flow has seen modest growth, reflecting the suburb's stable rental market.
Common tenants in leased properties include young professionals, students, and urban dwellers drawn to Clifton Hill's vibrant lifestyle and convenience.
Rental Demand
Clifton Hill experiences consistently low vacancy rates for houses, townhouses, and units over the past decade, indicating strong rental demand, averaging 1.5% for houses and 2% for townhouses and units.
Since the COVID-19 pandemic, vacancy rates have dropped, with Clifton Hill's desirable location and lifestyle attributes driving rental demand averaging 1%.
Factors such as proximity to employment hubs, public transportation, and recreational amenities contribute to the suburb's popularity among renters. Rental stock levels have decreased due to increased demand and limited new construction.
Why You Require a Buyers Agent in Clifton Hill
Competition for properties in Clifton Hill is fierce due to its limited housing supply and high demand. Engaging a buyer's agent with local expertise can provide valuable insights and assistance in navigating the competitive market.
Stock levels are constantly low due to the suburb's popularity and limited new construction, making it challenging for buyers to find suitable properties.
A unique reason why Clifton Hill is a good place to buy is its desirable lifestyle amenities, heritage charm, and proximity to Melbourne CBD, offering residents a convenient and vibrant urban lifestyle.
Having a buyers agent in Clifton Hill is crucial to your success. Having someone with the access, negotiation strategy and experience will ensure you purchase the right property at the right price, saving hundreds of thousands on the way in and making millions for years to come.
Why not seek Professional Advice from one of our Buyers Agents
We are unbiased market investors, who will put you first.
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Email: admin@compoundinvest.com.au
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