Paul,
The West course crosses a road and the East crosses two. It is right in the middle of Black Rock, a seaside suburb south of the city.
You do see as few houses on the west - back of the 5th tee, behind the 8th green, left of the 11th, behing the 12th tee and left of 14.
All of the best courses on the sandbelt are in the suburbs and surrounding houses have always been a part of the golf.
RM, Commonwealth, Metropolitan, Yarra Yarra and Victoria have all had to change holes because of the houses.
Kingston Heath has been immune from boundary problems although even they added fairway bunkers left of the 17th to encourage players to play a little further right.