Essendon house sells for $1.842m after $55,000 purchase in 1982

The 1923 Californian bungalow at 20 Washington St, Essendon, sold for $1.842m after 44 years in the same family. Picture: Jellis Craig An Essendon couple who paid $55,000 for their family home in 1982 have sold it 44 years later for $1.842m. The three-bedroom Californian bungalow at 20 Washington St, Essendon, had been their home since 1982 and was only the property’s second change of ownership. Adjusted for inflation, their original purchase is equivalent to about $257,000 in 2026 dollars, making the latest result roughly seven times that amount. RELATED: Poker champ lists $96m Brighton waterfront pair Melb billionaire offloading $90m CBD corner Man buys entire town for $1.9m, regrets it The sellers raised their children in the 1923 Californian bungalow, sent them to local schools and gradually expanded the home as their family grew. Now a young family with a baby has bought the property, with plans to send their own children to schools in the area. Jellis Craig Moonee Valley agent Kelli Johnson said the sellers were only the second owners of the home and had lived there throughout their 44 years of ownership. The sellers gradually modernised 20 Washington St during their 44-year ...