Robert Smerdon has stuck to his first thoughts and is taking on the older sprinters first-up with talented three-year-old Property at Caulfield.

One of Melbourne's top two-year-olds of last season makes his return at Caulfield against older and more experienced sprinters.

The Robert Smerdon-trained Property runs in Saturday's Group Two Caulfield Sprint (1000m) taking on the well-credentialled Faatinah, Missrock, Badajoz and Super Too.

Property won three of his five starts in his juvenile year, all at stakes level. He claimed both the Blue Diamond Preview and Prelude and won the Kindergarten Stakes in Sydney.

But his spring return as a three-year-old was delayed by a tibial stress fracture high up in a hind leg.

"The prognosis of those things is excellent and there's been no sign of it since," Smerdon said.

"He didn't need surgery, just time."

Smerdon hopes joining the spring carnival at a late stage will be an advantage.

He considered running Property in Wednesday's Blue Sapphire Stakes after he trialled well at Cranbourne earlier in the month.

"The thinking coming into the preparation was the 1200 metres of the Blue Sapphire was going to be too much first-up," Smerdon said.

"We wanted to go a bit softer but when I looked at it (Blue Sapphire) this week and the way he trialled, maybe it wasn't.

"But we committed to this path to run against the older horses in the open sprint.

"We'll see what his performance is like and decide from there what we do."

Smerdon said if Property runs well, even if he doesn't win, he could go to the Coolmore Stud Stakes at Flemington on November 4.

But if he runs below expectations Property will head to a 1000m three-year-old race under set weights and penalties at Flemington on Melbourne Cup day.

Property has been well supported ahead of Saturday's race, firming from $5 to $4.40 with first-up winner Snitty Kitty the $3.70 favourite.

Smerdon's other runner at Caulfield on Saturday is last-start Flemington winner Now Or Later in the Group Three Tristarc Stakes.

Now Or Later is on a path towards the Group One Myer Stakes on November 4.