Princes Hill, a suburb located just north of Melbourne's Central Business District, is a vibrant and picturesque area known for its leafy streets, historic architecture, and diverse community. This suburb offers an ideal mix of urban convenience and suburban tranquillity, making it a popular choice for families, professionals, and students alike. This guide explores the best residential areas within Princes Hill, detailing their unique characteristics, housing options, and average prices.
Table of Contents
Princes Hill Village
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Princes Hill Village is the heart of the suburb, featuring a charming mix of cafés, local shops, and parks. It is highly sought after for its community feel and accessibility, with excellent transport links to Melbourne's CBD.
Characteristics of the Princes Hill Village
* Culture: Community events, local markets
* Transportation: Well-connected by tram and bus services
* Services: Grocery stores, bakeries, cafes, and schools
* Environment: Friendly, bustling, and vibrant
Housing Options in the Princes Hill Village
Victorian houses, Townhouses, Apartments
Average Home Prices in the Princes Hill Village
* Buying: $1,200,000 – $1,800,000
* Renting: $600 – $1,200/month
Barkly Street
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Barkly Street is a picturesque tree-lined avenue that showcases some of the suburb's most attractive period homes. The area is popular among families due to its proximity to schools and parks.
Characteristics of the Barkly Street
* Culture: Family-focused, community-oriented
* Transportation: Easy access to public transport
* Services: Nearby schools, playgrounds, and local amenities
* Environment: Quiet and residential
Housing Options in the Barkly Street
Period homes, Renovated properties
Average Home Prices in the Barkly Street
* Buying: $1,000,000 – $1,500,000
* Renting: $550 – $1,000/month
Princes Park Area
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Adjacent to Princes Hill, this area offers direct access to the expansive Princes Park, perfect for outdoor activities. This green space enhances the residential appeal and serves as a focal point for community gatherings.
Characteristics of the Princes Park Area
* Culture: Active lifestyle, outdoor events
* Transportation: Close to tram stops and bike pathways
* Services: Sports facilities, picnic areas
* Environment: Lively and community-driven
Housing Options in the Princes Park Area
Family homes, Flats, Unit developments
Average Home Prices in the Princes Park Area
* Buying: $950,000 – $1,400,000
* Renting: $500 – $950/month
Newman Street
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Newman Street offers a blend of character-filled homes and modern apartments, making it appealing to a wide range of buyers and renters, from first-home buyers to investors.
Characteristics of the Newman Street
* Culture: Diverse community, vibrant social life
* Transportation: Convenient public transport options
* Services: Cafés, restaurants, and local shops
* Environment: Culturally rich and urban
Housing Options in the Newman Street
Victorian houses, Modern flats
Average Home Prices in the Newman Street
* Buying: $850,000 – $1,200,000
* Renting: $480 – $900/month
Clifton Hill Border
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At the edge of Princes Hill, this area boasts a mix of heritage homes and modern units, ideal for those seeking proximity to both Princes Hill and Clifton Hill’s vibrant lifestyle.
Characteristics of the Clifton Hill Border
* Culture: Cafés, boutique shopping, artistic vibe
* Transportation: Good tram and train services
* Services: Close to schools, parks, and eateries
* Environment: Eclectic and lively
Housing Options in the Clifton Hill Border
Apartments, Single-family homes, Townhouses
Average Home Prices in the Clifton Hill Border
* Buying: $900,000 – $1,300,000
* Renting: $520 – $1,000/month
Icaria Street
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Icaria Street features a range of housing options from older villas to newly built apartments, making it a popular choice for renters and buyers seeking modern amenities in a well-established area.
Characteristics of the Icaria Street
* Culture: Family-friendly, community-oriented
* Transportation: Accessible via major tram lines
* Services: Library, community centre, and schools nearby
* Environment: Homey and welcoming
Housing Options in the Icaria Street
Modern apartments, Townhouses, Family homes
Average Home Prices in the Icaria Street
* Buying: $800,000 – $1,200,000
* Renting: $500 – $850/month
Frequently Asked Questions About the Best Residential Areas in Princes Hill:
The most desirable suburbs include Princes Hill Village, Barkly Street, and the Princes Park Area, known for their amenities and community feel.
Yes, Princes Hill is very family-friendly, offering parks, good schools, and a supportive community.
Average property prices range from $800,000 to over $1,800,000, depending on the type and location.
Public transport is well-established, with tram services linking residents to Melbourne's city, making commuting convenient.
Options include Victorian homes, modern apartments, townhouses, and flats, catering to a wide range of preferences.
Yes, Princes Hill has access to several reputable schools and educational institutions, making it ideal for families with children.
The rental market is competitive, with average rents ranging from $480 to $1,200/month based on the property type and location.
Absolutely! Princes Hill is home to several parks, including the expansive Princes Park, providing great recreational opportunities.
Yes, Princes Hill has shown strong capital growth, making it a solid choice for property investment.
The community vibe is very welcoming, with residents often engaging in local events and markets, fostering a strong sense of camaraderie.
Conclusion on the Best Residential Areas in Princes Hill:
Princes Hill is a suburb that melds urban convenience with suburban charm. From the vibrant Princes Hill Village to the serene Barkly Street, each area has its unique appeal and advantages. With its rich diversity, great amenities, and strong community spirit, Princes Hill presents excellent opportunities for families, professionals, and investors alike. In choosing to live in Princes Hill, residents enjoy not just housing options at varying price points but a lifestyle enriched by culture, accessibility, and a sense of home.
About the Author
Published by:Eribert De Oliveira
Mechatronics Engineer and founder of Mi Inmueble Online, with a background in real estate. I combine technology and analysis to help you find the best areas to live.