Since Nan Bought

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South-East Melbourne · Victoria

What's changed in Pakenham since Nan bought

In 1955 a typical Pakenham house was about $6,800, or 4 years of an average wage. In 2026 it is about $700,000, or 7 years. Here is the decade-by-decade version, what was standing when, and what her block does now.

Price, 1955 → 2026
$6,800 → $700,000
Years of wages
4 → 7
Rebuilt or infill today
0% of homes

Modelled, not measured. Prices are the Melbourne median house price of the day (rounded, dollars of the day) scaled to where Pakenham 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
$6,800≈ 4 yrs of wages ($1,700/yr)

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

Of today's houses, standing by 1955
6%
1965
$9,900≈ 3.5 yrs of wages ($2,800/yr)

Triple-fronted cream brick, timber floors on stumps.

Of today's houses, standing by 1965
7%
1975
$28,500≈ 3.6 yrs of wages ($8,000/yr)

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

Of today's houses, standing by 1975
8%
1985
$67,000≈ 3.4 yrs of wages ($20,000/yr)

The ensuite arrives. Rumpus rooms and pergolas.

Of today's houses, standing by 1985
14%
1995
$115,000≈ 3.4 yrs of wages ($34,000/yr)

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

Of today's houses, standing by 1995
25%
2005
$275,000≈ 5 yrs of wages ($55,000/yr)

Biggest houses in the world. Alfresco and theatre room.

Of today's houses, standing by 2005
48%
2015
$505,000≈ 6.5 yrs of wages ($78,000/yr)

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

Of today's houses, standing by 2015
76%
2026
$700,000≈ 7 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%

What's been knocked down

Rebuild pressure in Pakenham is low. Streets look much as they did. Occasional renovation, very little demolition. Still releasing stages east and north. The old town along the highway is small and stable.

Locals know: Where the growth corridor meets the Bunyip flood plain. The low estates have drainage reserves for a reason.

What Nan's block does today

A typical Pakenham block is 350-600m². 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 Pakenham

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

Modelled on the Melbourne median of the day and Pakenham's current position relative to the city, a typical Pakenham house was around $9,900 in 1965, or about 3.5 years of an average full-time wage. In 2026 it is around $700,000, or about 7 years of wages. These are indicative figures, not sales records.

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

Roughly 0% of today's homes in Pakenham 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 Pakenham like when it was built?+

The largest share of Pakenham (35%) is 2000s estates (2000s). Rendered four-two-two with alfresco, theatre and double garage on 450-600m². Volume-builder estates on the fringe.

What Pakenham is made of The Australian house by decade

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