Melbourne’s rising construction costs and tightening land supply have made the sub-$500k price point increasingly difficult to find, yet pockets of opportunity continue to emerge across the city’s growth corridors.
For first home buyers, these areas remain one of the few ways to enter the market with a new-build home, supported by competitive builder offerings and estates designed to deliver long-term amenity.
While established suburbs have moved well beyond reach for many, Melbourne’s northern growth belt, stretching from Beveridge to Sunbury, continues to provide a pathway into home ownership.
Masterplanned estates, paired with high-volume builders able to deliver efficiently at scale, are keeping certain packages accessible even as broader market pressures persist.
Below, we’ve highlighted several house and land packages under $500k in Melbourne, each offering a practical entry point for buyers seeking new-build living without moving too far from the city’s expanding urban fringe.
a ONE by Eight Homes
Located in Redwood Crescent | $448,466*
Specs: 3 bedrooms, 2 bathrooms, 1 garage
Home size: 221 squares
Lot: 14 (approx.)
Eight Homes’
a ONE design is tailored to compact blocks, delivering a functional three-bedroom layout suited to 10.5m frontage lots.
A well-sized main bedroom with walk-in-robe and ensuite sits at the front of the home, while the kitchen, with a walk-in pantry, integrates into the dining and family area to form the central living zone. It’s a straightforward plan that prioritises efficiency and everyday usability.
Location: 632 Redwood Crescent, Beveridge VIC 3753
Eight Homes, established in 2007, delivers around 1,000 homes per year.
Located in Brown Boulevard | $474,042*
Builder: Sherridon Homes
Specs: 3 bedrooms, 2 bathrooms, 1 garage
Home size: 11.87 squares
Lot: 213m² (approx.)
This package from
Sherridon Homes includes a broad set of fixed-price inclusions, from floor coverings and blockout blinds to 2590mm ceilings and stone benchtops.
The home is designed for smaller lots while still providing open-plan living and a functional three-bedroom layout.
Site costs, developer requirements and key external items such as the driveway and letterbox are also covered.
Location: Lot 20933 Brown Boulevard, Donnybrook VIC 3064
Sherridon Homes was established in 2007 and completes around 1,000 homes annually.
Located in Daglish Way | $485,000 Fixed Price
Builder: Singh Homes
Specs: 3 bedrooms, 2 bathrooms, 2-car garage
Home size: 18 squares
Lot: 294m² (approx.)
This
three-bedroom house and land package by
Singh Homes brings together a wide range of inclusions geared toward buyers seeking certainty on total build cost.
Notable features include 2580mm ceiling heights, 900mm kitchen appliances, carpet and floor tiles throughout, ducted heating, and a coloured concrete driveway. Semi-frameless shower screens, soft-close cabinetry and overhead cupboards add further practicality.
Singh Homes, established in 2007, completes approximately 1,000 homes each year.
Locksley 131 by Mimosa Homes
Located in Vilana Drive (Everley Estate) | $488,000*
Specs: 3 bedrooms, 2 bathrooms, 1 garage
Home size: 13.13 squares
Lot: 294m² (approx.)
Locksley 131 by
Mimosa Homes features a main bedroom that sits privately at the rear with an ensuite and walk-in-robe, while two additional bedrooms are positioned at the front.
An open-plan kitchen, meals and living area forms the home’s social centre, suitable for small families or first-time buyers.
Location: Lot 481 Vilana Drive, Everley Estate, Sunbury VIC 3429
Mimosa Homes was established in 2007 and also builds around 1,000 homes per year.
As always, pricing and availability can shift quickly in Melbourne’s growth areas as land is released and estates reach new stages. Buyers considering these packages should confirm final costs, inclusions and developer requirements directly with the builder or land seller.
For the most accurate and up-to-date information, submit an enquiry to request more information directly from the builder.
*Plans, prices and inclusions may change without notice.
Publisher Website: www.homeshelf.com.au