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Bundoora is located about 20 kilometres north of the CBD, and is bound by the suburbs of Thomastown to the west, Mill Park to the north, Watsonia to the east and MacLeod to the south.
It is home to La Trobe University’s biggest campus, supporting a strong tenant demand by students, and is also accessed by tram, up Plenty Road (the longest tram route in Melbourne).
According to the REIV, Bundoora’s median house price for the year ended December 31, 2007, is $381,850, up 19.3 per cent since last year.
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.
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