Carlton Real Estate

Carlton
Carlton is a developed area noted for its great variety of cultural, study, entertainment and economic activities. The Italian precinct along Lygon Street, a busy food and entertainment strip, is a major drawcard for both local and international visitors. Carlton has a very large population of local and overseas students, who attend the nearby University of Melbourne and RMIT University.

Population

The total population of Carlton, around 14,400 residents, is forecast to grow rapidly over the next decade. Carlton’s large student population (over a third of the suburb’s total population) has resulted in extensive high-rise student housing, which continues to expand every year.

Young people aged 12-25 years comprise nearly half the population (47%), and the main occupancy in Carlton is rental (77%), most likely due to the size of its student population. Fifty per cent of the accommodation is residential apartments, with a further 30 per cent being student apartments. For these reasons, Carlton is considered a smart investment, both as an excellent place to rent out a property, and as a popular, densely-populated suburb located close to the city.

Location and transport

Carlton is bordered by Parkville to the west, Melbourne CBD to the south and East Melbourne to the south-east. It has 7 public parks covering nearly 17% of the suburb, including the World Heritage-listed Carlton Gardens. Carlton is served by many of Melbourne’s tram routes, and a network of buses serve the suburb along its main thoroughfares. Royal Parade forms a major link from the city to Carlton.

Education and health

Many university-owned buildings can be found around Carlton as a result of the University of Melbourne’s expansion. Melbourne Business School and part of RMIT University’s City Campus is also situated in Carlton. The Royal Women’s Hospital and the Royal Dental Hospital are located in the suburb, and the Cancer Council Victoria, Cancer Research Institute and Australian College of Optometry all have head offices in Carlton.

Lifestyle

Lygon Street is a very popular nighttime destination for many Melbournians. Visitors come to busy Lygon Court, with its cinema, adjacent bookshops and bars, or stroll up Rathdowne and Lygon streets for a meal in one of the many excellent restaurants. Due to the strong student presence the whole suburb is dotted with small cafes and wine bars, as well as arts venues (like La Mama Theatre) and pubs. Carlton’s significant public areas and buildings include the Melbourne Trades Hall, Carlton Gardens, Exhibition Buildings, Melbourne Museum, Melbourne General Cemetery and Princes Park.