It is surrounded by Box Hill North and Doncaster to the north, Blackburn to the east, Box Hill South and Burwood to the south, and Surrey Hills to the west.
Part of the precinct agents describe as Mont Albert and Mont Albert North are actually in the Box Hill postcode, and are considered the suburbs most expensive pockets.
Driving to Box Hill from the CBD should take about 16 minutes in a non-peak period.
According to the REIV, Box Hill’s median house price for the year ended December 31, 2007, is $847,500, up 30.2 per cent since last year.
Values in Box Hill North over the same period increased 29.1 per cent to $555,000, while values in Box Hill South increased 33.1 per cent to $605,000.
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.
Agents anticipate values in Box Hill to increase moreso than the metropolitan average over the next few years, given the suburbs convenient location to the Eastlink road network, and the "blue ribbon boom" which has made suburbs like Camberwell and Surrey Hills too expensive to buy into.
The nearby suburb of Blackburn is also expected to experience above average capital gain growth, because of Eastlink.