I think you may want to reconsider your target suburbs in the east or you may have to move again come secondary schools unless the kiddos are going to private schools for secondary. Camberwell is good for both but Hawthorn is pretty ordinary for secondary (thanks to the many private schools...
If I were to live in this area with max $500k to spend, I will personally pick Avondale Heights. Quite a nice area and the primary school is pretty good. Public transport is not that good though depending on where you need to travel to for work.
