Its best streets include the Esplanade, Fenwick, Spensley and Dally Street – and its residents are spoilt by an express train that runs direct from Clifton Hill into the CBD.
Though it is regarded its own suburb, Clifton Hill actually falls under the umbrella of North Fitzroy, which it shares a postcode with (3068).
Fitzroy North is typically a little more expensive to buy into than Clifton Hill. Its best streets include Falconer Street, Michael Street and Alfred Crescent, around the Edinburgh Gardens.
The suburb’s main retail hubs are in Queens Parade, at St Georges Road, where the popular Piedemonte’s supermarket and deli is located.
According to the REIV, Clifton Hill’s median house price for the year ended December 31, 2007, is $655,000, up 28.8 per cent since last year.
Values in North Fitzroy over the same period increased 23 per cent to $690,000.
By comparison, median values increased 12.6 per cent for homes in metropolitan Melbourne, to $425,000.
The REIV annualised median figures are considered more statistically reliable than the quarterly figures released throughout the year, because they include a much greater sample of sold properties.