Prahran Portions 46, 47 and 48 13th January 1854 – Caulfield South

Description

This is a private sale of some 600 allotments. The first advertisement appeared in “The Banner” in Melbourne on Friday the 13th of January 1854. Advertisements ran fortnightly until the 28th of February 1854. The ads suggested that prices would double or more in the coming months as the vendors were offering the allotments at half price to encourage development. Initially the blocks were ”

“Government Road frontages, 10s. per foot. Street frontages, 5s. per foot. Corners, 2s. per foot extra.”

That would make the asking price for lot 99 on Olive Street £8-5-0 ($16.50 in decimal currency) or $18,500 in today’s dollars. One might multiply that by 30. The subdivision starts on Glenhuntly Road between Adler and heads east to a few blocks short of Roselea Street. It heads south to cover both sides of Sycamore Street. The subdivision continues south on the eastern side of Hawthorn Road as far as Maple Street.