Hardly think so - properties there sold to Lawyers. Rented one off in albert street to 2 medical doctors - with 2 young kids (who work in austin) salaries most likely more than the people who comment here. No issues with rental and demographics are changing drastically. there are more than 30-40 applications for planning permits in the system with new developments changing the whole area.
summerhill road is no different to nisbett, clingin, seston or others. It is ex-housing commission. there are some really old houses with junk kept in the area. However these areas are gold. you do realize that these areas nisbett and summerhill are all rezoned. 1.6 million just achieved 2 weeks ago. We can laugh at ex-housing commission but look at Heidelberg west 26% growth in last year some blocks selling for 900K. It is the cheapest RE to buy in Melbourne with its distance to CBD in my opinion atm.
Summerhill Road itself is much better than the roads below the hill because the areas down there used to have lots of government public housing with a lot of poverty, crime and drugs. You could say up on the hill, it's the creme of the crop for the local area. Lots of old italian and greek families, solid brick houses. There's a lot of redevelopment, subdivision going on there currently so it may end up quite different in a few years.
The area around Summerhill Road in Reservoir is an area of extreme localised disadvantage. Unfortunately this will sometimes result in things like crime as this older type of concentrated public housing can result in entrenched generational disadvantage. However the area is changing rapidly, boosted especially by the new Summerhill shopping centre.