The suburb is effectively split into three parts including Whiskey Hill, which runs west from Epsom Road to the Maribyrnong River and Travancore which runs east of Mount Alexander Road to the Citylink motorway.
Driving into the city from Ascot Vale will take about ten minutes, about the same distance it takes via train. Ascot Vale is on the Craigieburn train line.
Surrounding suburbs include Maribyrnong to the west, Moonee Ponds to the north, Brunswick to the east and Flemington and Kensington to the south.
Ascot Vale homes range from terrace houses in streets such as Kent and North Streets, through to Federation homes on large blocks along Charles and Mooltan Streets.
According to the REIV, Ascot Vale’s median house price is $620,000 for the year ended December 31, 2007, an increase of 29.7 per cent since the same time a year earlier. The REIV’s annualised median figures are considered more statistically reliable than the quarterly figures released throughout the year, because they survey a much greater sample of properties.
According to Australian Property Monitors, Melbourne’s median weekly asking rent for houses is $340 as at December 2007. This is an increase from $330 per week in the September quarter.
Average median weekly asking rents for units are $300 per week in the December 2007 quarter, up $10 since the September quarter.
Gross rental yields for houses in Melbourne are now 4.12 per cent, a drop from 4.23 per cent in the September 2007 quarter. Gross rental yields for apartments in the December 2007 quarter were 4.8 per cent, compared to 4.9 per cent in the September 2007 quarter.