As seen
As seen
Real Estate Caulfield
Your Agency. Your Neighborhood.
Distance from CBD
12km
Nearby schools
Popular cafes
No Stress Café,
Vern’s Café
Einstein’s 251
Parks & Recreation
Caulfield Park
Princes Park
Harleston Park
Who lives in Caulfield?
Caulfield has an established residential community with a substantial family and owner-occupier presence. The 2021 Census recorded 5,748 residents and 1,478 families in the suburb:
Population
5,748
Average Age
60+
Owner
65%
Renter
32%
Family
58%
Single
42%
Property Prices
See the median sale price breakdown of Caulfield over the last 5 years.
Median House Price
Median
1.85M
Quarterly price change
-5.13% 
Median Unit Price
Median
900K
Quarterly price change
-25%
Quarterly Price Change
- Houses
- Units
Sales Snapshot
Key insights to the property market within your suburb.
Auction clearance rate
63.79%
Is Caulfield a Good Investment for Landlords and Investors?
Caulfield offers a mix of houses, townhouses and apartments, with rental demand supported by transport and nearby education precincts. Current market data shows different performance across houses and units, so investors should assess each dwelling type separately:
Dwelling type
Houses
40%
Units
60%
Population
5,748
Population growth
2.73%
Median age
45 days
Ownership
Owned Outright
37%
Mortgaged
28%
Rented
32%
Median asking rent per week
$939
Rental yield
2.79%
Median household size
3 people
Caulfield’s Architectural Character, Precincts & Landmarks
Caulfield’s Boundaries and Local Character
- Bounded by Kooyong Road (west), Glen Eira Road (north), Glen Huntly Road (south), Booran Road (east).
- Just 1.5 km² – one of Glen Eira’s smaller, denser suburbs.
- Serviced by the Hawthorn Road (Route 64) and Glen Huntly Road (Route 67) tram corridors. The historic Grand Union Tramway Junction – one of only a few remaining operating in the southern hemisphere – is located nearby at the Hawthorn Road and Balaclava Road intersection in Caulfield North.
Kooyong Road
- 294 Kooyong Road carries an individual Heritage Overlay (HO154) under the Glen Eira Planning Scheme.
- Heritage controls in Caulfield aren’t confined to one precinct – they are also applicable on a single property in an otherwise unremarkable street.
- Owners here need to check the citation for their specific address, not assume a blanket rule.
Landmark Infrastructure
- Glenhuntly Tram Depot – a defining fixture of the Glen Huntly Road streetscape since the early 20th century.
- Caulfield Hospital – a long-standing anchor institution for the suburb.
Adjoining Caulfield East
- Caulfield Racecourse and the Caulfield campus of Monash University are just across Booran Road in neighbouring Caulfield East – not technically inside Caulfield’s own boundary.
- Both shape rental demand and lifestyle appeal for Caulfield buyers without inflating the price tag that comes with being inside Caulfield East itself.
- Worth stating plainly, given how often the two suburbs are conflated in general search.
Heritage Overlay Rules and Questions the Caulfield Buyers Are Asking
Heritage rules in Caulfield rarely apply on a suburb-wide basis. Glen Eira’s planning scheme attaches them to individual addresses, which means two neighbouring properties can carry very different restrictions. The following sets out what that means for anyone buying, selling or renovating in Caulfield.
What Permit and Heritage Rules Apply to Houses for Sale in Caulfield
Glen Eira applies its Heritage Overlay under Clause 43.01 of the local planning scheme.
In Caulfield, a citation usually applies on a single property rather than a whole street. The listing at 294 Kooyong Road carrying Heritage Overlay HO154 doesn’t automatically extend to the house next door.
Before listing or renovating, check the citation attached to the title itself – not the reputation of the street it is located on.
What generally needs a permit:
- Fences, carports or garages visible from the street. Council typically wants these low and set back, not front and centre.
- Second-storey additions, usually required to sit behind the existing roofline.
- Any change to a feature specifically named in the citation – a verandah, chimney, or original fence counted as contributory.
- Full or partial demolition.
What generally doesn’t:
- Internal work, unless the citation switches on interior controls.
- Repainting a surface that’s already painted, provided no paint control applies.
- Like-for-like repairs using matching materials.
Getting things done faster:
A fence, carport or similar small job can often go through VicSmart instead of a standard application, reducing council’s decision time considerably.
Eligibility depends on the class of works and which overlay applies – not every renovation qualifies. A pre-application meeting with a trusted planning team will identify problems before they become something bigger.
Selling a heritage-affected property:
Under Section 32 of the Sale of Land Act 1962 (Vic), the vendor’s statement must disclose any heritage overlay or planning control attached to a property before a contract is signed. Leaving it out isn’t a paperwork shortcut – it can hand a buyer legal grounds to walk away after signing.
Want to know more about Caulfield?
Questions Caulfield Buyers and Renters Are Asking Right Now
Can you recommend reputable real estate agencies and listings for the Caulfield area?
- Check who has actually settled property inside Caulfield itself over the past 12 months, not just suburbs sharing a similar name.
- Ask for a fee breakdown before signing an agency agreement – marketing is sometimes billed separately from commission.
- Besser & Co works across Caulfield, Caulfield North and the Toorak Road corridor, with a direct line to director Dion Besser rather than a call centre.
What are the top tips for finding affordable Caulfield apartment rentals right now?
- Widen your search to the newer build-to-rent stock at Realm Caulfield, located in Caulfield North on Caulfield Boulevard – 437 apartments with amenities bundled into the rent rather than charged on top.
- Older walk-up blocks close to the Hawthorn Road and Glen Huntly Road tram lines tend to undercut newer builds on price.
- If you’d rather rent a house in Caulfield than an apartment, expect less competition but a much smaller pool of listings – separate houses accounted for 39.9% of occupied dwellings in the 2021 Census, while semi-detached, terrace and townhouse dwellings accounted for 37.9% and apartments 21.5%.
How does the Caulfield real estate market compare to nearby suburbs in Victoria this year?
- Caulfield’s median house price is at $1.9 million, down 17.61% over the past year – the steepest correction among its immediate neighbours.
- Caulfield North holds a $2.4 million median, down a comparatively modest 3.27%.
- Caulfield South has moved the opposite way, up 12.28% annually to a $2 million median.
- These three figures are drawn from the same external data provider for a like-for-like comparison – a different source to the figures used elsewhere on this page, so treat them as a separate cross-check rather than a direct match.
I’m looking for real estate options in Caulfield and Caulfield North – what are the best neighbourhoods and current price ranges?
- Caulfield North carries the higher price tag – a $2.4 million house median – for tree-lined boulevards, Victorian and Edwardian-era homes, and an established community centred on Balaclava Road.
- Caulfield (3162) runs cheaper by comparison, at $1.9 million, with tighter streets and quicker access to the Kooyong Road tram corridor.
- Character and heritage streetscape point you toward Caulfield North; transport access and a lower entry point point you toward Caulfield.
How do I compare Caulfield Boulevard apartments in terms of rent, amenities and commute?
- Caulfield Boulevard is located in Caulfield North (3161), not Caulfield (3162) – it forms part of the Caulfield Village development around Station Street in the Caulfield East/Caulfield locality.
- It’s a short walk to Caulfield Racecourse and close to Caulfield Station, which runs an express service into the CBD in around 13 minutes at times.
- Newer buildings near the Caulfield Village precinct tend to bundle a pool, gym and parking into the rent; older stock further from the station charges less but offers fewer amenities.
Which Caulfield suburbs offer the best value for real estate investment near Caulfield Village?
- Caulfield Village is located at 31 Station Street, Caulfield East, immediately north of the racecourse and close to Caulfield Station and the surrounding retail and transport network.
- Buying directly inside the development means paying a new-build premium.
- Caulfield (3162), just across Booran Road, offers established housing stock at established-suburb pricing without that premium, while still sitting within walking distance of the precinct’s retail and transport.
What should I know before buying a property in Caulfield VIC 3162?
- Victoria’s cooling-off period runs for 3 clear business days after signing, under Section 31 of the Sale of Land Act 1962 – it doesn’t apply if you buy at auction, or within 3 business days of one.
- Cooling off after signing costs the greater of $100 or 0.2% of the purchase price.
- The vendor’s Section 32 statement must disclose any heritage overlay attached to the property – read it before you sign, not after.
- Book a building and pest inspection before auction day. You won’t get a cooling-off window to arrange one afterwards.
FAQs
What are the best tips for finding an apartment for rent in Caulfield right now?
- Widen your search to build-to-rent stock in neighbouring Caulfield East, and check older walk-up blocks near the tram lines – both undercut new apartments on price without sacrificing location.
How much does it cost to rent a house or apartment in Caulfield?
- Caulfield’s median asking rent sits at $993 a week across houses and units combined, reflecting the suburb’s transit access and tight rental stock.
How does the Caulfield real estate market compare to nearby suburbs?
- Caulfield is located at the more affordable end of its immediate neighbours, with Caulfield North commanding a notable premium and Caulfield South tracking closer to the middle.
Is Caulfield a good area for investors looking at apartments vs houses?
- Units carry the stronger momentum right now, while houses offer more land and long-term upside. Caulfield’s high renter share favours apartments for steady, lower-maintenance investment returns.
What’s the difference between Caulfield, Caulfield North and Caulfield South?
- Caulfield, Caulfield North and Caulfield South are separate suburbs with their own boundaries and character. See our Caulfield North and Caulfield South pages for a full local breakdown.
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