What properties can you buy in Melbournewith $100k, $300k, $500k and more? (January 2026)

Authored by the expert who managed and guided the team behind the Australia Property Pack

Yes, the analysis of Melbourne's property market is included in our pack

What can I realistically buy with $100k in Melbourne right now?

Are there any decent properties for $100k in Melbourne, or is it all scams?

With USD $100,000 converting to roughly AUD $145,000 to $147,000 at early 2026 exchange rates, the honest answer is that this budget does not buy a normal, standalone residential property in Melbourne because the median house price sits around AUD $1.1 million and even the median unit price is approximately AUD $640,000.

At this price point, legitimate listings in Melbourne typically include car parking spaces in CBD towers, tiny student accommodation style units with restricted titles, or partial interest schemes rather than conventional apartments, so if something looks like a normal home at this price, it warrants serious skepticism.

Buying in popular or upscale Melbourne areas like Toorak, South Yarra, Brighton, or Hawthorn for $100k USD is simply not possible, as even the smallest studio apartments in these premium suburbs start well above AUD $400,000.

What property types can I afford for $100k in Melbourne (studio, land, old house)?

At USD $100,000 (around AUD $145,000) in Melbourne in 2026, your realistic options are limited to car spaces in inner-city buildings, or using the funds as a deposit and closing costs toward a more standard property purchase rather than buying something outright.

If you somehow find habitable property near this price in Melbourne, expect it to be either extremely small (under 25 square meters), have legal or usage restrictions attached to its title, or require significant renovation work that could cost AUD $30,000 to $80,000 or more.

For long-term value at this budget level in Melbourne, the smartest approach is actually treating the $100k as equity toward a larger purchase because tiny restricted titles and micro apartments often face resale challenges and limited capital growth compared to standard residential stock.

What's a realistic budget to get a comfortable property in Melbourne as of 2026?

As of early 2026, the realistic minimum budget to get a comfortable, livable property in Melbourne is approximately AUD $450,000 to $500,000 (around USD $310,000 to $345,000 or EUR 285,000 to 315,000), which gets you into a decent one-bedroom apartment in middle-ring suburbs.

Most buyers seeking a comfortable standard in Melbourne, meaning a good-condition property with normal title and reasonable space, typically need AUD $600,000 to $900,000 (USD $410,000 to $620,000 or EUR 380,000 to 570,000) for a two-bedroom apartment or AUD $900,000 to $1.3 million for a house or townhouse.

In Melbourne, "comfortable" generally means a property of at least 50 to 70 square meters for an apartment, modern or well-maintained finishes, secure building access, and proximity to public transport within a 30-minute commute to the CBD.

Your required budget can vary dramatically by neighborhood in Melbourne, with inner-east suburbs like Richmond or Hawthorn commanding 30% to 50% premiums over western suburbs like Footscray or Sunshine for equivalent property types.

What can I get with a $200k budget in Melbourne as of 2026?

What "normal" homes become available at $200k in Melbourne as of 2026?

As of early 2026, USD $200,000 converts to approximately AUD $290,000 to $295,000, which is still below the entry point for most normal apartments in Melbourne, so true "normal" homes generally do not become available at this budget.

At this price range in Melbourne, the best you might find is a very small studio or micro apartment in high-rise clusters like Southbank, Docklands, or the CBD fringe, typically measuring just 15 to 35 square meters with compromised layouts or restricted usage conditions.

By the way, we have much more granular data about housing prices in our property pack about Melbourne.

What places are the smartest $200k buys in Melbourne as of 2026?

As of early 2026, the smartest approach with USD $200,000 in Melbourne is using it as a substantial deposit toward a more standard property in outer growth corridors like Melton, Werribee, or Craigieburn where unit medians range from AUD $380,000 to $450,000.

These outer Melbourne areas offer smarter value because they have genuine population growth, improving infrastructure like new train stations, and rental demand that supports property values, whereas inner-city micro apartments at similar prices often struggle with oversupply and weak resale markets.

The main growth driver in these smart-buy outer Melbourne suburbs is the combination of affordability relative to wages, major transport projects like the Metro Tunnel opening in 2026, and Victoria's strong interstate and overseas migration pushing families toward areas where they can actually afford homes.

What can I buy with $300k in Melbourne in 2026?

What quality upgrade do I get at $300k in Melbourne in 2026?

As of early 2026, moving from USD $200,000 to $300,000 (approximately AUD $435,000 to $440,000) in Melbourne means you can finally start looking at real one-bedroom apartments with proper living space, normal strata titles, and locations in middle-ring or outer suburbs rather than just micro studios.

At AUD $435,000 to $440,000, you can sometimes find properties in newer buildings in areas like Footscray, Sunshine, Preston, or outer suburbs like Werribee, though newer construction in inner suburbs will still be out of reach at this price.

Specific features that typically become available at this Melbourne budget include proper separate bedrooms (not just studios), building amenities like secure parking and intercom systems, and locations within walking distance of train stations or tram lines.

Can $300k buy a 2-bedroom in [VARIABLE PLACE] in 2026 in good areas?

As of early 2026, finding a two-bedroom property for USD $300,000 (around AUD $435,000) in genuinely good Melbourne areas is quite difficult, with most options limited to older walk-up apartments in value-oriented suburbs rather than premium locations.

Specific Melbourne areas where two-bedroom options might appear at this budget include Reservoir, Thomastown, Broadmeadows, Frankston, and parts of Werribee, which offer practical living but are not considered prestige suburbs.

A $300,000 USD two-bedroom in Melbourne at this price typically offers 55 to 70 square meters of internal space, often in buildings constructed before 2000, and usually without premium fixtures or extensive building amenities.

Which places become "accessible" at $300k in Melbourne as of 2026?

At USD $300,000 (approximately AUD $435,000), Melbourne suburbs that become more realistically accessible include inner high-rise zones like Southbank and Docklands for small one-beds, plus middle-ring areas like Footscray, Sunshine, Brunswick West, and Preston for older apartments.

These newly accessible Melbourne areas are desirable compared to lower-budget options because they offer genuine train line connectivity to the CBD, established retail and dining strips, and growing populations of young professionals and families creating vibrant community atmospheres.

At the $300,000 USD level in these accessible Melbourne suburbs, buyers can typically expect a well-maintained one-bedroom apartment of 45 to 55 square meters in a mid-rise building with basic amenities and good natural light.

By the way, we've written a blog article detailing what are the current best areas to invest in property in Melbourne.

What does a $500k budget unlock in Melbourne in 2026?

What's the typical size and location for $500k in Melbourne in 2026?

As of early 2026, USD $500,000 converts to approximately AUD $725,000 to $735,000, which in Melbourne typically buys a good-quality one-bedroom or smaller two-bedroom apartment in desirable middle-ring suburbs, or potentially a townhouse or house-and-land package in far outer growth corridors like Tarneit, Craigieburn, or Pakenham.

A family home with outdoor space at this Melbourne budget is possible but usually requires looking 30 to 45 kilometers from the CBD in suburbs like Werribee, Melton, Mernda, or Clyde North, where new house-and-land packages can fall within this range.

At AUD $725,000 to $735,000 in Melbourne, you can typically expect two to three bedrooms and one to two bathrooms, with total living space of 70 to 120 square meters for apartments or 150 to 200 square meters for outer suburban houses including land.

Finally, please note that we cover all the housing price data in Melbourne here.

Which "premium" neighborhoods open up at $500k in Melbourne in 2026?

At USD $500,000 (around AUD $725,000 to $735,000) in Melbourne, premium neighborhoods that open up for apartment purchases include South Yarra, Richmond, Hawthorn, Prahran, St Kilda, Carlton, and the edges of Fitzroy, though you will be looking at compact apartments rather than spacious homes.

These Melbourne neighborhoods are considered premium because they feature tree-lined streets, heritage architecture, walkable village atmospheres with cafes and boutiques, excellent public transport, and proximity to attractions like the Royal Botanic Gardens, Yarra River trails, and Melbourne's best restaurants.

For $500,000 USD in these premium Melbourne suburbs, buyers can realistically expect a well-appointed one-bedroom apartment of 50 to 65 square meters in a modern or renovated building, often with secure parking and building amenities like a gym or rooftop terrace.

What counts as "luxury" in Melbourne in 2026?

At what amount does "luxury" start in Melbourne right now?

In Melbourne in 2026, luxury property generally starts at approximately AUD $1.5 million (around USD $1.03 million or EUR 950,000) for apartments and AUD $2.5 million to $3 million (USD $1.7 million to $2 million or EUR 1.6 million to 1.9 million) for houses in prestigious suburbs.

Entry-level luxury in Melbourne typically means properties featuring high-end finishes like marble benchtops and European appliances, premium building amenities such as concierge services, pools, and private lifts, architectural design by recognized firms, and views of the city skyline, bay, or established gardens.

Compared to Sydney where luxury apartments commonly start above AUD $2 million, Melbourne's luxury threshold remains somewhat more accessible, though the gap has narrowed as Melbourne's prestige market has strengthened through 2025 into 2026.

Mid-tier luxury in Melbourne runs from AUD $3 million to $8 million (USD $2 million to $5.5 million or EUR 1.9 million to 5 million), while top-tier trophy homes in suburbs like Toorak regularly exceed AUD $10 million with record sales reaching $50 million or more for exceptional estates.

Which areas are truly high-end in Melbourne right now?

Melbourne's truly high-end neighborhoods in 2026 include Toorak (median house price around AUD $5.3 million), Brighton (median around AUD $2.87 million), South Yarra's best streets, Malvern, Kew, Hawthorn, Armadale, Canterbury, Camberwell, Albert Park, and Middle Park.

These Melbourne suburbs are considered truly high-end because they combine historic prestige dating back to the 19th century, proximity to elite private schools like Scotch College and Melbourne Grammar, large established gardens on substantial land parcels, heritage architecture, and exclusive social networks.

The typical buyer profile for high-end Melbourne areas includes established business owners and company directors, medical specialists and senior partners at law and accounting firms, third and fourth generation wealthy families, and increasingly, interstate buyers and international high-net-worth individuals attracted by Melbourne's livability and relative value compared to global cities.

How much does it really cost to buy, beyond the price, in Melbourne in 2026?

What are the total closing costs in Melbourne in 2026 as a percentage?

As of early 2026, total closing costs in Melbourne for an Australian citizen or permanent resident typically range from 5% to 6% of the purchase price, while foreign buyers face significantly higher costs of approximately 13% to 16% or more due to additional surcharges and fees.

The realistic low-to-high percentage range for most standard Melbourne transactions is 4.5% to 7% for local buyers (depending on property value and any applicable concessions) and 12% to 18% for foreign purchasers including all mandatory government charges.

The specific fee categories making up these Melbourne closing costs include land transfer duty (stamp duty) which is the largest component, foreign purchaser additional duty of 8% for non-residents, conveyancing and legal fees, title searches and registration fees, and Foreign Investment Review Board application fees for foreign buyers.

To avoid hidden costs and bad surprises, you can check our our pack covering the property buying process in Melbourne.

How much are notary, registration, and legal fees in Melbourne in 2026?

As of early 2026, conveyancing and legal fees in Melbourne typically cost AUD $1,200 to $3,000 (USD $825 to $2,070 or EUR 760 to 1,900), while land registry searches, title registration, and lodgement fees add approximately AUD $500 to $1,500 depending on transaction complexity.

These combined fees represent roughly 0.2% to 0.5% of the property price for a typical Melbourne residential purchase, which is relatively modest compared to the much larger stamp duty component.

In Melbourne, land transfer duty (stamp duty) is by far the most expensive component of these transactional costs, often exceeding AUD $40,000 to $55,000 on a median-priced house and dwarfing the legal and registration fees, especially for foreign buyers who must add the 8% foreign purchaser additional duty.

What annual property taxes should I expect in Melbourne in 2026?

As of early 2026, annual property taxes in Melbourne for a typical investment property include council rates of approximately AUD $1,500 to $3,500 (USD $1,030 to $2,415 or EUR 950 to 2,220) per year depending on the council and property valuation.

Council rates in Melbourne typically represent about 0.15% to 0.35% of property value annually, though this varies significantly by local government area, with City of Melbourne rates calculated differently than outer suburban councils like Wyndham or Casey.

Property taxes vary considerably across Melbourne based on whether the property is your principal place of residence (which is exempt from land tax) or an investment, with investment properties subject to Victoria's land tax on the unimproved land value, and absentee owners facing additional surcharges that can substantially increase annual holding costs.

Exemptions and reductions in Melbourne include the principal place of residence exemption from land tax, pensioner rate concessions on council rates, and potential exemptions for certain development activities, though foreign and absentee owners generally do not qualify for most concessions.

You can find the list of all property taxes, costs and fees when buying in Melbourne here.

Is mortgage a viable option for foreigners in Melbourne right now?

Obtaining a mortgage as a foreigner in Melbourne in 2026 is possible but more difficult than for Australian residents, with lenders typically requiring larger deposits, more extensive documentation, and applying stricter lending criteria for non-resident borrowers.

Foreign buyers in Melbourne can generally access loan-to-value ratios of 60% to 70% (meaning 30% to 40% deposit required) compared to up to 95% for Australian residents, and interest rates for non-residents are often 0.5% to 1.5% higher than standard rates.

Documentation requirements for foreign buyers seeking Melbourne mortgages typically include verified overseas income translated into English, tax returns from your home country, proof of genuine savings, employment verification, and sometimes evidence of Australian-sourced income or assets.

You can find the list of all property taxes, costs and fees when buying in Melbourne here.

What should I predict for resale and growth in Melbourne in 2026?

What property types resell fastest in Melbourne in 2026?

As of early 2026, the property types that resell fastest in Melbourne are family-friendly houses and townhouses in established middle-ring suburbs, followed by well-located two-bedroom apartments in owner-occupier dominated buildings rather than investor-heavy towers.

The typical time on market to sell a property in Melbourne is approximately 33 days based on late 2025 data, though well-priced homes in high-demand areas often sell within three to four weeks while oversupplied apartment stock can take three months or longer.

Properties sell faster in Melbourne when they offer features that match the dominant buyer pool in that area, such as proximity to top-rated schools in family suburbs, dedicated parking in inner areas where street parking is scarce, or north-facing living areas that capture Melbourne's valued winter sunlight.

The slowest-selling property types in Melbourne tend to be small one-bedroom apartments in oversupplied high-rise towers (especially Docklands and Southbank where thousands of near-identical units compete), older apartments with high body corporate fees, and properties with unusual titles or usage restrictions.

If you're interested, we cover all the best exit strategies in our real estate pack about Melbourne.

What sources have we used to write this blog article?

Whether it's in our blog articles or the market analyses included in our property pack about Melbourne, we always rely on the strongest methodology we can and we don't throw out numbers at random.

We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.