In 1955 a typical Reservoir house was about $8,000, or 4.7 years of an average wage. In 2026 it is about $1M, or 10 years. Here is the decade-by-decade version, what was standing when, and what her block does now.
Modelled, not measured. Prices are the Melbourne median house price of the day (rounded, dollars of the day) scaled to where Reservoir 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.
Commission homes on the fringe; weatherboards and brick closer in.
Triple-fronted cream brick, timber floors on stumps.
Brown brick project homes, ducted gas, a family room.
The ensuite arrives. Rumpus rooms and pergolas.
Four-two-two under one roof. Federation-revival gables.
Biggest houses in the world. Alfresco and theatre room.
Dual occupancies everywhere. Black frames and butler's pantries.
7-star, no new gas, townhouse pairs. Or a rebuild on Nan's.
Includes ~35% infill that replaced an earlier house.
Rebuild pressure in Reservoir is high. Two or three homes replacing one on many streets. Original houses are becoming the minority and land value drives everything. Dual occupancies and townhouse pairs across the whole suburb. The 1950s-60s veneers are the stock being replaced.
Locals know: Melbourne's biggest suburb by area, with three distinct markets: the west near the train, the east near the creek, and the Commission pocket in the middle.
A typical Reservoir block is 550-700m². Three realistic paths in 2026.
Blocks of 550-700m² in Reservoir commonly support two dwellings, subject to overlays. Two townhouses typically $650K-$900K each to build, plus a 6-12 month permit.
Read the guideOne 230-280m² family home on the full block, $650K-$1.2M depending on builder tier and suburb.
Read the guideRestump, rewire, roof and a bathroom: $70K-$140K to bring an old Melbourne house up to modern comfort.
Read the guideModelled on the Melbourne median of the day and Reservoir's current position relative to the city, a typical Reservoir house was around $12,000 in 1965, or about 4.3 years of an average full-time wage. In 2026 it is around $1M, or about 10 years of wages. These are indicative figures, not sales records.
Roughly 35% of today's homes in Reservoir are infill: townhouses, courtyard homes or rebuilds that replaced an earlier house. Rebuild pressure is high: Two or three homes replacing one on many streets. Original houses are becoming the minority and land value drives everything.
The largest share of Reservoir (35%) is infill townhouses and rebuilds (2000s-2020s). Dual occupancies and townhouse rows replacing 1950s-60s veneers under ResCode, plus single-block knockdown rebuilds.
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