Since Nan Bought

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Inner Melbourne · Victoria

What's changed in Carlton since Nan bought

In 1955 a typical Carlton house was about $10,500, or 6.2 years of an average wage. In 2026 it is about $1.6M, or 16 years. Here is the decade-by-decade version, what was standing when, and what her block does now.

Price, 1955 → 2026
$10,500 → $1.6M
Years of wages
6.2 → 16
Rebuilt or infill today
20% of homes

Modelled, not measured. Prices are the Melbourne median house price of the day (rounded, dollars of the day) scaled to where Carlton sits against the city median in 2026, blended toward the median for earlier decades because suburbs move up and down the ladder. Wages are national average full-time earnings. Treat every figure as "about". For actual sales history, ask an agent or the state valuer.

The decades

1955
$10,500≈ 6.2 yrs of wages ($1,700/yr)

Commission homes on the fringe; weatherboards and brick closer in.

Of today's houses, standing by 1955
73%
1965
$16,000≈ 5.7 yrs of wages ($2,800/yr)

Triple-fronted cream brick, timber floors on stumps.

Of today's houses, standing by 1965
80%
1975
$48,500≈ 6.1 yrs of wages ($8,000/yr)

Brown brick project homes, ducted gas, a family room.

Of today's houses, standing by 1975
80%
1985
$120,000≈ 6 yrs of wages ($20,000/yr)

The ensuite arrives. Rumpus rooms and pergolas.

Of today's houses, standing by 1985
80%
1995
$220,000≈ 6.5 yrs of wages ($34,000/yr)

Four-two-two under one roof. Federation-revival gables.

Of today's houses, standing by 1995
80%
2005
$560,000≈ 10.2 yrs of wages ($55,000/yr)

Biggest houses in the world. Alfresco and theatre room.

Of today's houses, standing by 2005
84%
2015
$1.1M≈ 14.1 yrs of wages ($78,000/yr)

Dual occupancies everywhere. Black frames and butler's pantries.

Of today's houses, standing by 2015
92%
2026
$1.6M≈ 16 yrs of wages ($100,000/yr)

7-star, no new gas, townhouse pairs. Or a rebuild on Nan's.

Of today's houses, standing by 2026
100%

Includes ~20% infill that replaced an earlier house.

What's been knocked down

Rebuild pressure in Carlton is low. Streets look much as they did. Occasional renovation, very little demolition. Frozen at the front, remade at the back. Terrace renovations with light wells and rear studios are the local building type.

Locals know: Party walls, no side access and 1870s footings. Every Carlton renovation is a logistics job before it is a building job.

What Nan's block does today

A typical Carlton block is 150-350m² terraces. Three realistic paths in 2026.

Knock it down, build one

One 230-280m² family home on the full block, $650K-$1.2M depending on builder tier and suburb.

Read the guide

Keep it and fix it

Restump, rewire, roof and a bathroom: $70K-$140K to bring an old Melbourne house up to modern comfort.

Read the guide

Questions about Carlton

How much did a house in Carlton cost in the 1960s?+

Modelled on the Melbourne median of the day and Carlton's current position relative to the city, a typical Carlton house was around $16,000 in 1965, or about 5.7 years of an average full-time wage. In 2026 it is around $1.6M, or about 16 years of wages. These are indicative figures, not sales records.

How much of Carlton has been knocked down and rebuilt?+

Roughly 20% of today's homes in Carlton are infill: townhouses, courtyard homes or rebuilds that replaced an earlier house. Rebuild pressure is low: Streets look much as they did. Occasional renovation, very little demolition.

What was Carlton like when it was built?+

The largest share of Carlton (65%) is villas and cottages (1850s-1910s). Victorian and Edwardian weatherboards and brick terraces, iron lace, slate or iron roofs, timber floors on stumps, rooms off a hall.

What Carlton is made of The Australian house by decade

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