The areas of Melbourne you mention are very good areas to live but very pricey, rents are expensive in these areas. You can visit Realestate.com.au and look up property sale prices and rent. If you were to buy in these areas auction is usually the way property is sold and despite the government trying they have not been able to stop property being advertised for a lot less than what it finally sells for, sometimes 50 thousand plus.
There is a shortage of rental properties now and many people are going after the one property this is a problem in the areas you mention as a high percentage are owner occupied being such desirable places for professionals to live.
The private schools are close by and so these areas attract professional people.
The further out people live the less it costs but that is not for all places as it depends on being close to the beach, close to the rail line etc. Its the old real estate adage, position, position, position.
As I have said before Melbourne is such a large area that it depends where people work where people live if people do not want to spend a good part of their life sitting on public transport or in a traffic jam on a freeway.
We do not have grammar schools just high schools and some are perceived to be better than others, there are catchment areas for schools.
Education in Australia is different in each State the curriculum's are not the same although of course similar and this is a problem when people move from State to State and I think they should jolly well fix it.
I have raised my children here and they are now grown up and I sent them to public primary and private high school.
I am happy to answer any questions you may have.
