Building Guides
Cost to build a house in Melbourne
What a new home costs per square, what moves the price, and how you pay for it.
Oakview Homes’ homes average $15,000 to $16,000 per square including GST, so a 25-square home in Melbourne’s south-east is roughly $375,000 to $400,000. Your quote depends on the block, the design and the finishes.
Try our rough cost guide with the size you have in mind.
How much does a house cost to build, by size?
| Home size | Rough guide, incl. GST |
|---|---|
| 20 squares (186 m2) | $300,000 to $320,000 |
| 25 squares (232 m2) | $375,000 to $400,000 |
| 30 squares (279 m2) | $450,000 to $480,000 |
| 35 squares (325 m2) | $525,000 to $560,000 |
These are worked out from Oakview’s average cost per square. A four-bedroom home can sit anywhere in this range: it depends on the design, not the bedroom count.
What is a square, and what is that per square metre?
A square is 100 square feet, or about 9.29 m2. Builders in Victoria still quote by the square. Oakview’s average works out at about $1,615 to $1,722 per square metre of floor area, including GST.
What changes the price of a new home?
- The block: soil, slope, fill and access for trucks, which the soil test and survey show before the slab is designed.
- The design: the size, the shape and the number of rooms, and one storey or two.
- The finishes: benchtops, flooring, tapware, lighting and appliances.
- Connections and permits: water, sewer, power and gas to the street, and the building permit.
- On a knockdown rebuild, the demolition too: see knockdown rebuild costs.
How do you pay for a new home?
In stages, as each is finished. On a contract to build all stages, the standard Victorian schedule is a 5% deposit, then 10% at base, 15% at frame, 35% at lock-up, 25% at fixing and the balance at completion (Consumer Affairs Victoria). See what happens at each stage.
Is a per-square figure the final price?
No. It is a fair first idea, but it cannot show the things that change block by block. Your quote lists exactly what is included. Tell us about your block and the home you want, or call 03 8658 7000.
Got a question about building with us?
See answers to the questions we hear most.