Spending a lot of time Bayside, I've noticed a dramatic change from a year ago when property was sitting on the market for some time before settling privately.
The sprawl down the bay has begun and suburbs like Edithvale, Chelsea, Bonbeach etc have really started to pickup with ~450k the minimum for a 2-3 bdr house with large yard.
One would think this could continue further down the bay,with the long-heralded Frankston possibly about to enjoy it's time in the sun...
As for the west, every time you think suburbs like Yarraville, Seddon etc are overpriced and have run too hard, they just seem to go from strength-to-strength and rise further. I'm sure there's a lesson in there somewhere.