Thanks MG, that's really useful. I did think that parking would be an issue. I think I'll stay put if I get a job in the CBD and only consider a move if I get a job I love at Deakin or Monash and I can see being there for years. Secondary schooling might be another push factor.

Ginger - my house is worth around $580K. I can get something similar with less land in Eltham for that, give or take $50K. Starting prices for a 3br older style house would be around $400K in Woodend. Infact, there are units for sale for closer to $475K. Upper end houses on a few acres are pushing a million, on substantial acreage, over a million.