Brighton is about 16 minutes drive south of the city, but is also accessed by train and tram.
Its best streets surround “the Golden Mile” and include Birdwood Avenue, Kent Street, Glyndon Avenue and St Ninians Road. Its residents flock to Bay Street and Church Street.
Brighton is bound by Elwood to the north, Elsternwick to the east and Hampton to the south.
It is also surrounded by Brighton East, to the east, however property values here are significantly cheaper.
According to the REIV, Brighton’s median house price for the year ended December 31, 2007, is $1,653,500, up 34.3 per cent since last year.
Values in Brighton East over the same period increased 24 per cent to $970,000.
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.