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Collingwood is one of Melbourne’s most affordable inner-city suburbs, and is wedged between the more expensive suburbs of Fitzroy to the west, Abbotsford to the east, Fitzroy North to the north and East Melbourne to the south.
It is less than a one kilometre walk from the eastern edge of the CBD, however from the Bourke Street post office to Collingwood Town Hall, expect to travel about 3 kilometres.
Collingwood’s selection of homes include terraces, apartments and warehouse conversions. Collingwood is home to the famous redevelopment of Silo apartments in Cambridge Street – and also accommodates what is believed to be Australia’s smallest house, known as “the doll house” on Islington Street, near the Collingwood College.
The eastern side of the Smith Street retail strip is considered Collingwood.
Within the suburb of Collingwood, the pocket east of Wellington Street to Hoddle Street is considered the most affordable. However locals say crime, stemming from drug and alcohol abuse, is a major problem.
According to the REIV, Collingwood’s median house price for the year ended December 31, 2007, is $560,500, up 35.9 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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