Cheapest Melbourne suburbs to renovate -

Please note that price information in this article was based on data from 2011, and may now be outdated. 

On the whole, a basic overhaul – which includes a paint job and kitchen and bathroom update – in Melbourne will cost 3.6% less than in Sydney. No big shocks there.

But what is surprising is the small amount homeowners in Melbourne’s north had to fork out for renovations, compared to residents in other parts of the city.

Lots has been written about the best suburbs to invest in to make money. In Melbourne it’s typically suburbs in the inner city which are bursting with “renovators’ delights” that offer good growth potential.

While changes in median and average sale prices are examined under a magnifying glass, little attention is given to varying renovation prices. When calculating the cost of renovations it’s typically a one size fits all approach – that was until now.

After throwing the spotlight on geo-specific renovation prices, it’s apparent that renovation costs actually change depending on where you are in Melbourne.

Homeowners in Melbourne’s north spent just shy of $10,000 for a basic renovation (which includes a quick kitchen and bathroom update, paint job and new floors), close to half the price of those in Melbourne’s south.

So, if you’re renovating your home in the south it could definitely be worth your time and energy sourcing renovation businesses from the city’s north.

Total average renovation prices by region:

1. North: $9,821
2. East: $12,171
3. West: $14,337
4. South: $15,582