oooo my friend lived on st annes road - gorgeous house, views to die for close to town centre, and the hills were her garden. (don't think they had problems as riven suggested - lived there for over 20 years)
if i hadn't grown up there would def consider going back.
the hills are out of this world. stunning.
areas - around town centre and on hills
also big victorian houses just south of town centre, around splash/malvern college - priory road, avenue road, court road
also malvern wells, west and north malvern lovely
malvern link less nice and avoid anywhere near estates (eg elgar ave, pound bank)
schools don't know much about primary schools but think northleigh, great malvern, west malvern north malvern are all good
secondary - i was at the chase. it was excellent - excelled as well in music sport etc. ended up at oxbridge along with about 4/5 of my year. dysons was less good but that may have changed. and of course there are 5 thousand nice private schools.