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Not just the home of Australia’s most successful shopping centre, Chadstone, about 17 kilometres south-east of the CBD, was one of Melbourne’s better performing suburbs last year.
Bound by Malvern East and Hughesdale to the west, Oakleigh and Oakleigh East to the south, Mount Waverley to the east and Ashwood to the north, Chadstone has a train run through it, but no actual stop.
Rather commuters need to use the Holmesglen train station in Malvern East, just west of the Chadstone border, or the Jordanville station in Mount Waverley, just east of the suburb’s border.
According to the REIV, Chadstone’s median house price for the year ended December 31, 2007, is $541,000, up 33.6 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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