Caulfield Property Growth
VIC · 3162 · Inner South-East Melbourne
An inner south-east Melbourne suburb in the City of Glen Eira, home to Caulfield Racecourse and Monash University's Caulfield campus, with a mix of established housing and higher-density apartments near the station.
Overview
Location: City of Glen Eira
An inner south-east Melbourne suburb in the City of Glen Eira, home to Caulfield Racecourse and Monash University's Caulfield campus, with a mix of established housing and higher-density apartments near the station.
Market Snapshot
Median House Price
$2.05m
Median Unit Price
$650k
Demographics
Estimated Population
5,608
Owner Occupier Rate
66.0%
Renter Rate
34.0%
Transport & Connectivity
Caulfield is a major rail interchange, serving as a connection point between several metropolitan lines since the Metro Tunnel opened in February 2026.
Major Roads
- Dandenong Road
- Sir John Monash Drive
- Glen Huntly Road
Train Lines
- Caulfield Station — Frankston line services, plus Cranbourne and Pakenham line trains (now routed via the Metro Tunnel)
Tram Routes
- 3
- 3a
Caulfield is a key interchange point — travellers from the Cranbourne/Pakenham corridor connect here for services toward the CBD via the Metro Tunnel. Verify current timetables and interchange arrangements before relying on any commute estimate, as these have changed recently.
Education
Caulfield is home to a major Monash University campus.
Universities
- Monash University (Caulfield campus)
Childcare
A range of long day care, kindergarten and outside school hours care providers operate across Caulfield. Always verify availability and waitlists directly with providers.
Amenities & Lifestyle
Caulfield Park offers open green space and barefoot bowls, and Caulfield Racecourse (shared with neighbouring suburbs) is a major horse racing venue hosting the Caulfield Cup. Caulfield Plaza and the Caulfield Shopping Centre (adjacent to the Monash campus) provide everyday retail, with Chadstone Shopping Centre a short drive away.
Employment
Caulfield's economy is closely tied to Monash University alongside racecourse-related events and local retail.
Major Employment Hubs
- Monash University Caulfield campus
- Caulfield Racecourse
Commercial Centres
- Caulfield Plaza
- Caulfield Shopping Centre
Infrastructure
The Metro Tunnel (opened February 2026) rerouted Cranbourne, Pakenham and Sunbury line services through central Melbourne, changing how Caulfield functions as an interchange point. No further projects beyond those noted above are currently confirmed for Caulfield. Check Infrastructure Australia's project pipeline, State Government announcements or City of Glen Eira's website for the latest updates.
Growth Drivers
- Major Metro Tunnel interchange — Since the Metro Tunnel opened in February 2026, Caulfield Station has become a key connection point between the Frankston line and Cranbourne/Pakenham line services routed via the tunnel.
- Monash University Caulfield campus — A major tertiary campus anchors significant student rental demand and employment.
- Caulfield Racecourse — Home to the Caulfield Cup, this major horse racing venue drives consistent visitor demand and local economic activity.
- Proximity to Chadstone Shopping Centre — One of Australia's largest shopping centres is a short drive away, supplementing local retail at Caulfield Plaza and Caulfield Shopping Centre.
Key Risks
- The Metro Tunnel's rerouting of services changed how Caulfield functions as an interchange — commuters should verify current timetables and interchange arrangements rather than relying on pre-2026 patterns.
- Event-day traffic and parking around Caulfield Racecourse can affect nearby streets.
- Like all property markets, Caulfield is sensitive to broader interest-rate and lending-condition movements.
Frequently Asked Questions
Caulfield's growth drivers include its role as a major Metro Tunnel interchange, the Monash University Caulfield campus, and the Caulfield Racecourse precinct, but every investor's circumstances and goals differ. This is general information, not personalised financial advice — consider speaking with a licensed financial adviser before making investment decisions.
Refer to the Market Snapshot section on this page for current median price data sourced from our live database.
Caulfield is home to Monash University's Caulfield campus, with a range of long day care, kindergarten and outside school hours care providers across the suburb.
Caulfield Station serves Frankston line services plus Cranbourne and Pakenham line trains, now routed via the Metro Tunnel since February 2026. Verify current timetables and interchange arrangements before relying on any commute estimate, as these have changed recently.
Caulfield Park offers open green space and barefoot bowls, and Caulfield Racecourse is a major horse racing venue hosting the Caulfield Cup, with Caulfield Plaza and the Caulfield Shopping Centre providing everyday retail and Chadstone Shopping Centre a short drive away.
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Calculate Future ValueSources
- ABSAustralian Bureau of Statistics — Census QuickStats— https://www.abs.gov.au/census
- Local CouncilCity of Glen Eira— https://www.gleneira.vic.gov.au
- Department of Transport VictoriaDepartment of Transport and Planning Victoria— https://www.transport.vic.gov.au
- Victorian Planning AuthorityVictorian Planning Authority— https://vpa.vic.gov.au/
- Infrastructure AustraliaProject Pipeline— https://www.infrastructureaustralia.gov.au
This content is for informational and educational purposes only. It does not constitute financial advice. Nothing on this page constitutes financial, investment, legal or tax advice. Property markets are volatile and past performance is not indicative of future results. Always seek independent advice from a qualified financial adviser before making any property investment decision.