Couldn't really ask for more from a hostel. We stayed here on the weekend, so there was a lot of english lads there for a boozy weekend.
We stayed for 2 nights. The facilities are very good, very large rooms, great kitchen and common area. The breakfast was basic but sufficient. Generally has a very laid back atmosphere but the best aspect is the extremely friendly and helpful staff, notably Alem, who went well beyond the call of duty to help us. Recommended.
We stayed at the Ivanhoe Hostel for 5 nights. The location is very good but somewhat hard to find. The hostel is very cramped with the "common room" consisting of the hallway. The atmosphere was actually quite friendly except for the staff who came off as strange (for instance, they are all male and sleep in the dorm rooms). However, one of us developed a number of suspicious bites on his back and arms which we suspect were bed bugs. Beware. Also lockout from 11am - 4pm ('party hostel??').