Ivanhoe East, Victoria

Ivanhoe East is a suburb of Melbourne, Victoria, Australia, 10 km north-east from Melbourne's Central Business District. Its local government area is the City of Banyule. At the 2016 Census, Ivanhoe East a population of 3,815.In the 12-month period to November 2010 Ivanhoe East reported a median house price of A$1.4 million.HistoryIvanhoe East Post Office opened on 1 November 1939.TodayLower Heidelberg Road is considered to be the suburb's centre, which hosts a strip of retail stores. Although only a small area, Ivanhoe East has its own church, newsagent, fruit store, butcher, milk bar, supermarket, bakery and community bank. It also boasts a range of speciality stores such as Austral Piano World and gift shop "So Swish". It is also home to "Floral Impressions", operated by award winning florist Kathleen Farrell.According to a 2010 analysis by property research company, R.P. Data, Ivanhoe East is the most tightly held residential housing market in Australia, with residents holding on to their properties for an average of 16 years, compared with overall greater Melbourne and Sydney hold periods of 9.6 years and 8 years respectively. Over that 16-year period between May 1994 and May 2010 median house prices within Ivanhoe East have increased from A$250,000 to A$1.25 million, representing an annual average growth rate of approximately 10.6%. As at December 2010 the median house price in Ivanhoe East (for the 12 months to November 2010) was approximately A$1.4 million.