It is located about 15 kilometres east of the CBD and is landlocked by Camberwell to the south, Surrey Hills to the east, Balwyn to the north and Hawthorn East to the west.
Canterbury’s best streets are along “The Golden Mile” of Mont Albert Road, and include Monomeath Avenue, Victoria Avenue, Alexandra Avenue and Wentworth Avenue.
According to the REIV, Canterbury’s median house price for the year ended December 31, 2007, is $1,575,000, up 30.2 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.