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Ari Levin
48 Ercildoune Street, Caulfield North, Vic 3161
$1,600,000 - $1,750,000
4 1 2
Open Sunday 7 June 12:00 pm Auction Sunday 28 June 11:00 am🏛️ About This Suburb (Last Updated Date: 2026-03-05)
History, Aboriginal heritage, and the story behind the name.
Caulfield North — Boonwurrung Country
Originally a series of swampy flats and sandy ridges, the area developed into an elite residential district in the late 19th century. Large Victorian and Edwardian estates were built as the railway expanded, attracting wealthy merchants and professionals. Following WWII, the suburb saw a significant influx of the Jewish community, which profoundly shaped its cultural and commercial landscape.
Today, it is a highly sought-after family suburb characterized by wide leafy streets, a mix of grand historic mansions, mid-century modern homes, and luxury contemporary apartments.
Overall Score
8.5
A premier Melbourne suburb with high barriers to entry and exceptional lifestyle infrastructure.
Aboriginal Name
Euro-Yroke— "The place where stone tools are made"
Name Origin
Named after John Caulfield, a pioneer and member of the Port Phillip Association.
Established
1850s
Green Space
Caulfield Park spans 26 hectares of recreational space.
Culture
Home to one of Australia's largest Jewish communities.
Landmark
Bordered by the historic Caulfield Racecourse.
Education
Host to the prestigious Caulfield Junior College (French Binational).
📊 Scorecard
12 key dimensions scored 0–10. Each score includes a one-line explanation.
Market Momentum
7
Steady demand for family homes despite higher interest rates, though the unit market is more fragmented.
Amenity
9
Exceptional access to high-end retail, diverse dining, and massive parklands.
Schools
9.5
Proximity to top-tier private schools and high-performing public zones makes it a family magnet.
Transport
9
Excellent connectivity via the Caulfield railway hub and multiple tram routes (3, 16, 64).
Risk Profile
7
Main risks are related to heritage restrictions and specific flood-prone zones.
Liveability
9
High quality of life with safe streets, community feel, and proximity to the city and bay.
Demographics
9
Affluent, established population with high levels of education and professional employment.
Rental Demand
8
Strong demand for both family houses and modern apartments near the university/station.
Growth Potential
7
Capital growth is driven by land scarcity and prestige, though high entry prices limit rapid gains.
Affordability
3
One of Melbourne's more expensive suburbs, particularly for detached housing.
Crime & Safety
8
Generally very safe with lower-than-average crime rates for the metropolitan area.
Walkability
8
Most pockets offer easy walking access to shops, parks, and public transport.
⚡ Quick Snapshot
Key metrics at a glance, plus your top advantages and watch-outs.
Median House
$2,450,000
Reflecting premium land value
Median Unit
$685,000
Includes many older 2-bed flats
CBD Access
15-20 mins
Via express train from Caulfield
5yr Growth
16.7%
Steady long-term appreciation
Family Ratio
68%
High percentage of households
Flood Risk
Moderate
Check SBO overlays specifically
✅ Key Advantages
- Exceptional public transport hub with express trains and multiple tram lines.
- Proximity to elite private schools including Caulfield Grammar and Melbourne Grammar (Grimwade).
- Caulfield Park is one of the best multi-use recreational parks in Melbourne.
- Strong sense of community and cultural identity.
- High-quality architectural stock with significant long-term heritage value.
⚠️ Key Watch-Outs
- Stringent Heritage Overlays (HO) can make renovations complex and expensive.
- Special Building Overlays (SBO) indicate significant flood risk in certain streets.
- Traffic congestion around Caulfield Station and during racecourse events.
- High entry price point for houses limits the pool of potential buyers.
- Significant price gap between unrenovated and renovated properties.
🏘️ Suburb Overview
Character, property mix, price range and what drives value here.
🏙️ Character
Affluent Residential
How this suburb feels day-to-day.
🏠 Property Types
Grand period houses, mid-century flats, and luxury new-build townhouses.
Dominant dwelling stock.
💰 Price Range
$600k (Units) – $10m+ (Mansions)
Typical entry to ceiling.
💡 Why It Matters
Caulfield North serves as a 'forever' suburb for families. Its stability comes from the high proportion of owner-occupiers and the cultural ties that keep residents in the area for decades, ensuring resilient property values even during market downturns.
💰 Price Guide & Market Trends
Medians, rental market, 5-year history and property split.
🏠 House Median
$2,450,000
$1.9m – $5.5m+
🏢 Unit Median
$685,000
$550k – $1.2m
📈 Price Trend
+3.2% past 12 months
12-month movement
🔑 Weekly Rents
Houses $950pw, Units $580pw
Current asking rents
📉 5-Year Price History
🏘️ Property Type Split
The high unit percentage is driven by the density near Caulfield Station and Monash University, creating a two-speed market between high-value land and high-yield apartments.
🎯 Affordability
How this suburb compares to metro and state medians.
🏙️ vs Metro Average
85% above Melbourne house median
Price comparison
📋 Income Ratio
11.4x average household income
Median price ÷ median income
💳 Gross Yield
2.8% (Houses), 4.4% (Units)
Estimated rental yield
More AffordableModeratePremium
Entry levelMid rangePremium
Caulfield North is a premium market. While units offer an entry point, family-sized houses are increasingly out of reach for average earners, requiring significant equity or high professional incomes.
🔥 Rental Demand
Vacancy rates, demand pressure, tenant profile, and investor outlook.
📊 Vacancy Rate
1.4%
Lower = tighter market
⏱️ Days to Lease
19 days
Avg time on market
📈 Rent Growth p.a.
+8.5%
Annual rental increase
Demand LevelHigh
👤 Tenant Profile
Young professionals, Monash University students, and families waiting to buy.
💼 Investor Outlook
Strong capital growth prospects for houses. Units offer better yields but face competition from newer developments near the racecourse precinct.
🚀 Growth Potential
Historical capital growth, infrastructure pipeline, and 5-year outlook.
+3.2%
1-Year Growth
+12.4%
3-Year Growth
+16.7%
5-Year Growth
📍 Growth Drivers
- Ongoing redevelopment of the Caulfield Racecourse precinct into a mixed-use hub.
- Scarcity of large residential blocks in the inner-southeast.
- Continued demand for the Caulfield Junior College school zone.
- Proximity to the expanding Monash University Caulfield campus.
⛔ Headwinds
- High interest rates impacting the $2m+ buyer segment.
- Increased construction costs for renovating heritage-listed properties.
- Potential oversupply of high-density apartments in adjacent Caulfield East.
🔮 5-Year Outlook
Expect steady capital appreciation for land-rich assets. The suburb's 'blue-chip' status provides a safety net, but growth will likely be moderate rather than explosive as prices approach affordability ceilings.
🛡️ Crime & Safety
Safety index, trend comparison, and what to check locally.
8
Safety Score
Above Average
📉 Trend
Stable
vs last 12 months
🏙️ vs Metro Average
18% below metro average
Relative comparison
Risk Categories
Property Crime: Low Personal Safety: Very Low Traffic/Road Safety: Medium
📋 What to Check Locally
Check local police reports for opportunistic theft from motor vehicles, which is the most common minor issue in the area.
⚠️ Risk Profile
Natural hazards and planning risks to verify before buying.
📋 Summary
The primary risks are environmental and regulatory rather than social or economic.
🌊 Flood Risk
Significant portions of the suburb are subject to a Special Building Overlay (SBO) due to overland flow paths.
🔥 Bushfire Risk
Negligible risk; fully urbanized environment.
🏦 Insurance Impact
Properties in SBO zones may face higher premiums; always obtain a quote during the cooling-off period.
🗺️ Planning & Zoning
Development controls, overlays, and what's changing locally.
📐 Typical Zoning
NRZ1 (Neighbourhood Residential Zone - Schedule 1)
🔲 Overlays
Heritage Overlay (HO), Special Building Overlay (SBO), Vegetation Protection Overlay (VPO).
🏗️ Development Hotspots
The 'Caulfield Village' precinct near the station is the primary area for high-density growth.
Zoning is highly restrictive in the leafy core to preserve character, which protects value but limits 'value-add' development potential.
🌳 Liveability
Day-to-day experience — transport, amenity, green space, schools and healthcare.
🚌 Transport
A+ hub; trains, trams, and easy access to Dandenong Road.
🛍️ Amenity & Retail
High-end; close to Glenferrie Road, High Street, and local Kosher hubs.
🌲 Parks & Recreation
Excellent; Caulfield Park is a regional standout with lakes, sports, and playgrounds.
🏫 Schools
Elite; access to both top-tier public and private options.
🏥 Healthcare
Good; close to Cabrini Malvern and The Alfred.
👥 Demographics
Who lives here — income, age, ownership, and education levels.
An affluent, multi-generational community with a high proportion of professional couples and families.
💵 Median Income
$115,000 pa (Household)
🏠 Ownership
38% owned outright, 28% mortgaged, 32% renting
🎂 Age Profile
Median age 37
🎓 Education
52% hold a Bachelor degree or higher
📊 Age Distribution
The high rate of outright ownership provides market stability, as fewer residents are forced to sell during interest rate hikes.
🏗️ Major Developments
Infrastructure pipeline and what it means for values and liveability.
📋 Overview
The Caulfield Village masterplan is the dominant project, transforming the station precinct.
📈 Positive Impacts
- Increased retail and supermarket options near the station.
- Improved pedestrian links and public plazas.
- Modernization of infrastructure around the racecourse.
📉 Negative Impacts
- Increased traffic congestion on Dandenong Road and Station Street.
- Potential wind-tunnel effects from new high-rise towers.
🗺️ Nearby Suburb Comparison
How neighbouring suburbs stack up on price, lifestyle and who they suit.
📍Malvern
Position North
Price More expensive
Lifestyle More 'old money' feel, slightly more manicured.
Best for Ultra-high net worth families.
📍Elsternwick
Position West
Price Similar/Slightly lower
Lifestyle More vibrant nightlife and cinema culture.
Best for Younger families and socialites.
📍Caulfield
Position South
Price Cheaper
Lifestyle More suburban, smaller blocks, fewer grand estates.
Best for Value-seeking families.
📍Armadale
Position North-West
Price Significantly more expensive
Lifestyle High-end fashion boutiques and smaller heritage cottages.
Best for Downsizers and fashion-conscious professionals.
🔍 Similar Suburbs
Suburbs with a comparable profile — useful if this one is over budget or sold up.
Kew
VIC
9/10
Elite schools, grand heritage homes, and hilly, leafy streets.
Rose Bay
NSW
8.5/10
Strong cultural community, elite schools, and premium residential feel.
Camberwell
VIC
8.5/10
Family focus, excellent transport, and significant period architecture.
St Ives
NSW
8/10
Strong community ties, large blocks, and excellent school access.
💬 Community Sentiment
Aggregated themes from resident discussions, forums and local feedback.
📊 Overall Community Sentiment
Residents praise the suburb for its safety, community spirit, and unmatched access to parks and transport, though some lament the rising cost of living.
★★★★★
Community Spirit
The sense of community here is like nowhere else in Melbourne; we know all our neighbors and feel incredibly safe.
Safety Community
★★★★☆
Transport Links
Being able to get to the city in 15 minutes from Caulfield Station is a game changer for my commute.
Commute Parking
★★★★★
Family Lifestyle
Caulfield Park is our second home; the kids love the playgrounds and we love the walking tracks.
Parks Lifestyle
★★★☆☆
Market Entry
It's a great place to own, but the yields on houses are quite low because the entry price is so high.
Capital Growth Yield
★★★★☆
Local Amenities
I love the cafes on Hawthorn Road, but finding a rental that isn't a tiny 1970s flat is getting harder.
Dining Rental Quality
★★★★☆
Heritage Living
Renovating our Victorian home was a nightmare with council, but the result was worth it for the character.
Character Council Red Tape
💡 Tailored Advice
Personalised guidance for every role in this market.
🧑💼 Buyer Strategy
- Prioritize properties on the 'Golden Mile' (near Caulfield Park) for maximum long-term value.
- Always check the Section 32 for Special Building Overlays (SBO) which indicate flood risk.
- Factor in an extra 20% for renovation budgets if the property has a Heritage Overlay.
- Look for 1960s/70s 'brick beauties' for better value-per-square-meter than new apartments.
- Visit the street during a race meet at Caulfield Racecourse to understand traffic impacts.
❓ Questions to Ask the Agent
- Is this property within a Special Building Overlay (SBO) or any other flood-related zone?
- What specific heritage restrictions apply to external and internal modifications?
- Are there any active planning applications for high-density developments in the immediate street?
- Is the property within the current catchment for Caulfield Junior College?
- What is the history of the property's foundations, given the area's sandy/swampy origins?
- How does the street handle traffic and parking during major events at the Racecourse?
- Are there any known issues with the plumbing or drainage on this specific block?
🏷️ Seller Strategy
- Highlight proximity to Caulfield Junior College if you are in the zone; it's a major selling point.
- Professional styling is essential here to meet the expectations of an affluent buyer pool.
- Ensure all heritage features are meticulously presented and restored.
- Off-market campaigns can be very effective in this suburb due to high buyer database numbers.
- Address any flood overlay concerns upfront with professional drainage reports.
📣 Positioning Tips
Position the property as a 'generational home' or a 'blue-chip lifestyle investment'. Emphasize the walkability to Caulfield Park and the prestige of the immediate neighborhood.
💼 Investment Case
Long-term capital growth play rather than a cash-flow play.
⚠️ Investment Risks
Low yields and high land tax on expensive properties.
📈 Action Plan
- Target older 2-bedroom apartments with a car park for the best rental yield.
- Avoid high-density blocks with high body corporate fees.
- Consider a 'buy and hold' strategy for houses to capture land appreciation.
- Focus on properties within walking distance of the train station.
🔑 Renter Tips
- Apply quickly for renovated units; they move within days.
- Check for off-street parking as street permits can be limited.
- Explore the area around Hawthorn Road for quieter rental pockets.
🏘️ What Renters Love Here
Unbeatable transport and safe, quiet streets at night.
⚠️ Renter Watch-Outs
Many older flats lack modern insulation and can be cold in winter.
🏢 Landlord Strategy
- Maintain gardens to a high standard to attract long-term family tenants.
- Consider pet-friendly policies to stand out in the family market.
- Regularly update kitchens and bathrooms to maintain premium rents.
📋 Compliance & Management
Strict adherence to Victorian minimum rental standards is required, especially regarding heating and dampness in older stock.
🤝 Agent Insights
- The Jewish community is a core demographic; understanding local cultural needs is vital.
- School zones are the primary driver for families moving into the area.
- Buyers are highly educated and will do deep due diligence on planning overlays.
🎯 Marketing Angles
Focus on 'Heritage Elegance', 'Parkside Living', and 'Elite Schooling Access'.
👤 Target Buyer Profile
Established families, medical professionals from nearby hospitals, and affluent downsizers.
✅ Due Diligence Checklist
Tap items to tick them off. Don't skip these before signing anything.
✓
Verify the property's zone and overlays on VicPlan.✓
Order a detailed flood report if the property is in an SBO zone.✓
Check the heritage register for specific significance ratings.✓
Inspect for rising damp and salt damp, common in the area's older masonry.✓
Confirm school zone boundaries via findmyschool.vic.gov.au.✓
Review the most recent council rates notice for any special levies.✓
Check for any significant trees protected by a Vegetation Protection Overlay.✓
Evaluate the proximity to high-voltage power lines or substations.✓
Assess the noise levels from Dandenong Road or the railway line.✓
Check the status of any cladding on newer apartment buildings.✓
Review the body corporate minutes for the last 3 years for units.✓
Confirm the functionality of all heating and cooling systems.📚 Government Sources & Disclaimer
Official council and government links only. Always verify independently before any property decision.
🔗 gleneira.vic.gov.au 🔗 abs.gov.au 🔗 mapshare.vic.gov.au 🔗 planning.vic.gov.au 🔗 findmyschool.vic.gov.au
⚠️ Important Disclaimer
This report is based on data available as of 2026-03-05 and is intended for informational purposes only. It does not constitute financial or legal advice. Buyers should conduct their own independent due diligence and consult with qualified professionals before making any property purchase.
