Wedged between Abbotsford, East Melbourne, Fitzroy and North Fitzroy, Collingwood is one of Melbourne’s most affordable inner-city suburbs.
Its home selection include terraces, apartments and warehouse conversions.
The suburb is accommodates high-profile silo converted residences, in Cambridge Street, and what is believed to be Australia’s smallest home, known as “the doll house” on Islington Street.
The eastern side of the Smith Street retail strip is considered Collingwood (the west is Fitzroy).
According to the REIV, its median house price for the year ended December 31, 2007, is $560,500 – up 35.9 per cent since last year.
By comparison, metropolitan median home values rose 12.6pc cent, to $425,000.