Caulfield - a diverse, well connected suburb: Hodges' Alex Flamm
GUEST OBSERVATION
Located just 11 kilometres south-east from Melbourne’s CBD, affluent Caulfield is one of Glen Eira’s most popular suburbs.
Bounded by Orrong Road, Dandenong Road, North Road and Booran Road, Caulfield offers a vast number of amenities to its 32,000 residents.
With a strong reputation for being one of Melbourne’s most desirable middle class suburbs, leafy Caulfield attracts a culturally diverse population.
Being a major transport interchange, Caulfield boasts excellent public transport links - ideal for residents who commute into the city for work. Meanwhile, the area’s numerous prestigious and wel -regarded schools including Caulfield Grammar, Wesley College, Caulfield High and Leibler Yavneh College; makes the area popular among families with children. Due to its proximately to Monash University’s Caulfield campus, the area is also popular with students.
For shopping, residents tend to flock to nearby Glenhuntly Road in Elsternwick, which offers a number of international delis and Jewish bakeries as well as the popular Eco’d outlet - a haven for fashion enthusiasts looking for trendy international labels.
With the introduction of a number of new gourmet eateries in recent years, the area has been placed on Melbourne’s gastronomy circuit. For the perfect cold-drip brewed latte and Reuben sandwich, locals head to Einstein’s 251 on Hawthorn Road while Tuck Shop Takeaway, a modern take on an old-fashioned burger joint, has proved to be hugely popular with locals and visitors alike. In nearby Ripponlea resides Attica, Australia’s most awarded restaurant.
Caulfield Park is the perfect setting for families and fitness lovers. Residents can often be found jogging around its border, enjoying a personal training session, or using one of the three children’s play areas. The park also is home to a number of sporting clubs and playing fields.
A host of options are available with regards to property types in Caulfield. The suburb is divided into three different areas, Caulfield North, Caulfield and Caulfield South. Caulfield North, being one of the most affluent locales, is known for its grand Victorian mansions, tree-lined streets and tranquil family feel. In more recent times, a number of apartments have been built in the area which tend to be occupied by young professionals.
Caulfield and Caulfield South are popular areas for young families, in particular those who have been priced out of the surrounding suburbs. In terms of accommodation types, these areas contain a number of town houses, Californian bungalows and Edwardian homes. Apartments are also plentiful here.
Given the area is divided into three parts, property prices vary from one locale to another. For example, in Caulfield South the average property price is around $1,125,000 for a house and $600,000 for a unit or apartment. Whereas in Caulfield North, an entry-level family home is upwards of $2,000,000.
As with many other suburbs that offer close proximity to the city, there is a high demand for housing in the area. In light of this, Caulfield offers excellent potential for capital growth, with annual price increases of around 5%. Renters make up around 30% of people residing in the area; tending to choose the suburb for its excellent transport links to the city, large family friendly blocks of land and proximity to Monash University’s Caulfield campus.
With that said, the vast majority of people living in Caulfield North are owner occupiers as property types in this area are predominantly luxury homes. In Caulfield and Caulfield South, rental properties fetch an average of $600 per week for a house and $395 per week for a unit or apartment.
For those looking to buy, Caulfield ticks all the boxes. Good schools, great transport links and large blocks of land make it the ideal place for affordable inner-city living.
Alex Flamm is director of Hodges Caulfield.
Photo courtesy of Stephen Edmonds/C.C. BY 2.0.