Why We Love Ivanhoe

While house and rental prices are on the higher end, residents are happy to pay for the quiet, convenience, and historic beauty of Ivanhoe.

Location

Ivanhoe is located about 9 km from the city centre, covering around 5.5 square kilometres within the Banyule Council area. The south is bordered by the Yarra River, which includes a golf course and a reserve strip. Darra Creek borders the suburb to the west. 9.7% of the area is covered by the suburb’s 21 parks, which provide plenty of outdoor lifestyle options for residents.

The suburb boasts easy access to the CBD by road or by access to an extensive public transport network including two train stations. Ivanhoe also offers a village-style strip with excellent cafes, restaurants and boutique retail outlets. The suburb’s heart is Upper Heidelberg Road where the former Heidelberg Town Hall used to be located, now known as The Centre Ivanhoe.

People

Ivanhoe has a mix of residents from different ages, lifestyles and ethnicities. However, the prices and proximity to the city mean the residents of the suburb are most often professionals. At the last census, the suburb had a population of 12,165, with the average age of residents being between 40-59 years old and representing an almost even split between families (49%) and singles (51%). However, couples with children are the most common type of household.

Lifestyle

Ivanhoe doesn’t boast much of a nightlife, but that’s about all it’s missing – and many of the residents prefer it that way. The style of the suburb is more stately, with older homes, nice cafes and boutique shopping along with the usual shopping centres and variety of restaurants that make the suburb extremely liveable.

Ivanhoe offers plenty of options for people who like to get outdoors, with a wide variety of sporting and recreation centres including the Ivanhoe Amateur Football Club that was established in 1910, and the Ivanhoe Bowls Club which has been around since 1912.

Ivanhoe also boasts Melbourne’s longest running book club, as well as hosting the Hatch Contemporary Arts Space and a Rotary Club. The schools within the suburb have an excellent reputation, especially Ivanhoe Grammar School and Ivanhoe Girls Grammar School which are elite private schools. Residents are zoned for Ivanhoe Primary School, which is one of Victoria’s oldest state schools.

Homes

Most people living in Ivanhoe own their house, with only 31% renting the property they live in. Households in Ivanhoe are likely to be paying around $4000 per month in rent, which reflects the higher house prices. Houses in the suburb spend an average of 57 days on the market before selling.

Over the last year, the median sale price for a house in the suburb has been $1.4 million, which is much higher than the national average of $485,000. Rents are also much higher than the national average, with an average rent in Ivanhoe being around $595 per week compared to an average of $395 across the country.

Living in Style

Ivanhoe is a more expensive option than many other Melbourne suburbs, but the lifestyle and great location make the cost worthwhile. With many venerable sporting, academic and lifestyle options, Ivanhoe offers its residents a mix of history with convenience and charm.

This venerable suburb offers great investment opportunities, but it’s also in an excellent place to settle down in a family home.  If you’re looking for a property in a quiet, safe suburb with great access to Melbourne’s CBD, talk to the real estate specialists at Love & Co. for up-to-date advice and expert opinions.