Question 1

Is Clifton Hill a nice place to live?

Accepted Answer

Clifton Hill is an inner-northern Melbourne suburb with a quiet village feel, tree-lined streets of Victorian and Edwardian terraces, workers' cottages and some contemporary infill. A small shopping strip clustered near Clifton Hill station supplies cafes, bakeries and everyday services, and the station on the Hurstbridge line provides straightforward public transport into the city. The suburb’s mix of period character, walkability and nearby parkland and cycling routes attracts young professionals, families and long-term residents.

Home to 6,606 people with a median age of 37, Clifton Hill is weighted towards couple households and about three in five homes are owner-occupied while just under two in five are rented. Transport and station accessibility upgrades are planned or under way, and local projects include the Collingwood Leisure Centre electrification, a new electrical substation kiosk in Mayors Park and council designs for sports facilities at Mayors Park and George Knott Reserve. Whether it suits you depends on how much you value period housing, public transport and green space nearby.

Question 2

Is it expensive to live in Clifton Hill?

Accepted Answer

Housing costs in Clifton Hill sit unevenly against local incomes. A typical local household earned about $2,755 a week as recorded at the most recent Census (roughly $143,260 a year). With house rent at $860 a week, rent would take about 31.2% of that weekly income, a sizeable share; unit rent at $525 a week would take about 19.0%, a modest share. Looking at buying, the median house price of $1,410,000 is about 9.8 times a typical local annual household income at the most recent Census, which sits well above local incomes, while the median unit price of $735,000 is about 5.1 times annual income, somewhat above local incomes. If you are renting rather than buying, the rent shares are the most relevant figures.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Clifton Hill a good place to invest?

Accepted Answer

House values were the standout in Clifton Hill over the past year, rising 11.0%, a strong increase in what a house is worth. Unit values also rose, up 5.5%, a solid gain. By contrast, the income side moved much less: house rents edged up 1.2% over the year, while unit rents fell 0.9%.

Put another way, this year saw capital growth dominate on the house side, while rental income changed only slightly for houses and eased a little for units. If rental yield or steady rental income is your priority, the modest rent movements are the relevant figures; if capital growth matters more, the value changes are the relevant figures. How that balance fits your goals and circumstances is for you to judge.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$1.41M	$735K
Change in value Past 12 months	11.0%	5.5%
Sold Past 3 months	26	11
Median days on market Past 12 months	36	21
Average rent Past 12 months	$860	$525
Change in rent Past 12 months	1.2%	-0.9%

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