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These two quiet, secluded areas of Melbourne are fantastic neighbourhoods for children to grow up in: sports in the park, bike rides along the Yarra River, playing in large, leafy gardens, and getting treats from the local shops.
Jarrod McCabe, director at Wakelin, describes Ivanhoe's location and history (0:50), the architectural styles in the area (1:10), one of Australia's first developer estates (1:20), demand for property and median house prices (1:40), the local shopping strips (1:50), transport options (2:05), suitability for investment (2:30), and the Boulevard Christmas lights (2:55).
Below is the full transcript of this video:
"For anyone who grew up in the East Ivanhoe or Ivanhoe area, sports in the park were probably a way of life, as were walking along the wonderful Yarra River, large period homes with fantastic gardens, and obviously fantastic shops and access to the city via the train system.
It really is an idyllic suburb to raise a family, and a lot people do that, so it’s not a surprise to find out that households are made up of predominately families within this area, with at least 3-4-bedroom homes on relatively large parcels of land, and the majority are period-style homes.
Ivanhoe and East Ivanhoe are located approximately 10km northeast of Melbourne’s city centre. It started back in the mid-1800s, around the 1850s, as an agricultural district just outside of Melbourne, but then between 1910 and 1930 it really boomed as a residential area.
So, next to the 19th century homestead buildings that were originally constructed there’s then the 20th century Art Deco architecture that really came into prominence. That also includes the Ivanhoe town hall, which is a significant building within the suburb.
Another interesting fact to note is that one of the first AV Jennings estates was originally developed in Ivanhoe in 1938, called Beaumont. It uses a range of early 20th century architectural styles and features one of the first examples of a cul-de-sac in Australia.
These period houses are very highly sought after but they’re quite tightly held. The median house price in Ivanhoe is $1.4 million, while East Ivanhoe has a median house price of $1.9 million (realestate.com.au, October 2018).
The area feels very quiet and secluded, but it does offer some vibrant shopping strips and they’re very well supported by the local community, via the cafes and local restaurants. But it does still offer two large supermarkets within the area.
Now like most middle-ring suburbs in Melbourne, it is quite a large area covered and it requires quite a walking distance to access the three train lines or rather three train stations that are located within the suburb: Ivanhoe, Eaglemont and Darebin.
There is no tram line that accesses Ivanhoe or East Ivanhoe, however it does have good bus links and there is good access to the Eastern Freeway as well.
Due to there not being many properties located nice and close to those train stations, Ivanhoe and East Ivanhoe aren’t ideally suited to investors. There are some good properties that work well from an investment perspective within the older-style apartment market and also perhaps in some villa units, but they’re a scarce asset in these locations.
Now, as we said earlier, most of the year residents in the two suburbs do really enjoy that quiet feeling of being cut off from the urban lifestyle that Melbourne typically offers. But at Christmastime, the Boulevard in East Ivanhoe becomes a very popular tourist attraction and that’s due to the light displays with the Christmas theme that they offer.
So, kids today are building their own memories in and around the Ivanhoe and East Ivanhoe area, with all the fantastic offerings that these suburbs have."