Introduction
Buying a house in Melbourne for under $750,000 may sound unrealistic at first glance — but it is still achievable with the right strategy, suburb selection, and expectations. While median prices across many inner-city areas have moved well beyond this level, opportunities remain for buyers who understand where and how to look.
In a market shaped by affordability pressures and changing buyer behaviour, smart decision-making matters more than ever.
Is a Sub-$750,000 House Still Possible in Melbourne?
Yes — but buyers need to be realistic. Detached homes under $750,000 are increasingly found in:
- Outer metropolitan suburbs
- Growth corridors with new infrastructure
- Established areas undergoing renewal
- Locations slightly further from the CBD
These properties may not be brand-new or centrally located, but they offer solid long-term potential.
Look Beyond the Inner City
Inner Melbourne suburbs command premium prices due to proximity, lifestyle, and limited supply. Buyers working within a $750,000 budget often achieve better outcomes by widening their search radius.
Suburbs further out frequently offer:
- Larger land sizes
- Family-friendly neighbourhoods
- Better value per square metre
- Access to schools, transport, and retail
Connectivity, not postcode prestige, should guide decisions.
Focus on Established Homes With Scope to Add Value
Instead of competing for renovated properties, many buyers are finding success with older homes that need light upgrades. These properties often sell below the price of fully modernised homes in the same suburb.
Adding value through:
- Cosmetic renovations
- Landscaping improvements
- Minor extensions
- Energy efficiency upgrades
can significantly improve long-term equity without overstretching budgets.
Timing and Flexibility Matter
Buyers who succeed under $750,000 often share one key trait: flexibility.
This includes being open to:
- Different property layouts
- Less competitive streets
- Off-market or pre-market opportunities
- Auction alternatives such as private sales
Being prepared and decisive can make the difference in competitive conditions.
Understand Market Competition at This Price Point
Homes priced under $750,000 attract strong demand, particularly from:
- First-home buyers
- Young families
- Investors seeking yield
- Upsizers on tighter budgets
Understanding comparable sales and acting quickly helps buyers avoid emotional overbidding while staying competitive.
Financing Strategy Is Critical
Affordability isn’t just about purchase price — it’s about repayments, long-term holding costs, and buffer capacity.
Smart buyers ensure:
- Loan pre-approval is in place
- Repayments remain manageable if rates change
- Stamp duty and buying costs are budgeted
- Renovation funds are factored in
Strong financial preparation creates confidence when the right property appears.
Long-Term Growth Still Matters
While affordability is the priority, long-term growth potential should not be ignored. Areas benefiting from:
- Infrastructure investment
- Population growth
- Transport upgrades
- Local employment hubs
often deliver stronger performance over time, even if they sit outside traditional “hot” suburbs.
What This Means for Buyers in 2026
Melbourne’s property market continues to evolve. While affordability challenges persist, buyers who focus on value, strategy, and patience can still secure a house under $750,000.
The key is adapting expectations without compromising future potential.
Final Thoughts
Buying a house in Melbourne under $750,000 is no longer about luck — it’s about informed decision-making. By widening suburb searches, staying flexible, and focusing on long-term fundamentals, buyers can still enter the market with confidence.
At Ravs Realtors, we help buyers uncover realistic opportunities that align with both budget and lifestyle in today’s Victorian property market.
