gwennym

Miles ahead of many other suburbs in terms of liveability. Mostly good people live here but there are spots near central park and the French estate where the rich uber class snobs live. I don't live in those parts and there's plenty of parts with wholesome down to earth people. It's never been cheap to get in to Malvern East and don't get bought into the median price to get in. You can get a run down renovate or detonate 2 bedroom solid brick house on a 600 block for 1.3m to 1.4m. It will cost you at least 500k to build a new one there. So you end up with a 1.8m property. If you plan to sell it, the market needs to be prepared to pay about 2.2m for it to be worth your risk / effort. Closer to Chadstone is where all the action is now. People these days want the convenience of walking there or even driving there in 2 mins. Why not? Everything you need under one roof and it's a 2 minute drive away! Asian investors will pay top dollar for this convenience.
Towards Malvern side is still not bad, just over-priced and you are not really getting much value at that side of town. And trust me, that side of town is also congested!