It is divided into two parts being the more “suburban” Donvale west of Springvale Road toward the city, and the “leafy’ part east of Springvale Road, where houses are typically larger and on large blocks.
Donvale is set to benefit from the opening of the Eastlink Motorway, which passes through the suburb on its way to Frankston.
According to the REIV, Donvale’s median house price for the year ended December 31, 2007, is $612,500, up 24.1 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.