New builds undercut established houses in three Melbourne suburbs
Matching live house-and-land asking prices against the established house median in the same suburb gives a median gap of -$64,250 across 19 Victorian suburbs. In three of them, Sunbury, Truganina and Werribee, the new package is actually the cheaper of the two.
In Sunbury, Truganina and Werribee, a new house-and-land package is priced below the established house median in the same suburb. Sunbury is the widest of the three at $43,320 under, then Truganina at $11,000 and Werribee at $8,350. Now maybe this is just sizes getting smaller but when their peers are all more expensive maybe this signals underlying value? Across every other suburb, new is dearer, and the median gap is $64,250 in favour of established.
Median new-build package price against established house median, 19 Victorian suburbs, September 2026. A positive gap means established is dearer; a negative gap means the new build is.
Sunbury
$43,320
Truganina
$11,000
Werribee
$8,350
Clyde North
-$3,250
Fraser Rise
-$20,600
Tarneit
-$21,350
Mambourin
-$33,558
Strathtulloh
-$46,790
Wyndham Vale
-$60,050
Winter Valley
-$64,250
Beveridge
-$72,000
Grantville
-$73,000
| Suburb | Gap Between The New-Build Package Price And The Established House Median |
|---|---|
| Sunbury | $43,320 ($701,680, $745,000) · median weekly rent $550 · median land component $342,000 |
| Truganina | $11,000 ($679,000, $690,000) · median weekly rent $530 · median land component $332,000 |
| Werribee | $8,350 ($672,650, $681,000) · median weekly rent $470 · median land component $348,000 |
| Clyde North | -$3,250 ($803,250, $800,000) · median weekly rent $600 · median land component $435,000 |
| Fraser Rise | -$20,600 ($730,600, $710,000) · median weekly rent $530 · median land component $399,000 |
| Tarneit | -$21,350 ($696,350, $675,000) · median weekly rent $530 · median land component $370,000 |
| Mambourin | -$33,558 ($693,558, $660,000) · median weekly rent $460 · median land component $314,000 |
| Strathtulloh | -$46,790 ($679,290, $632,500) · median weekly rent $480 · median land component $333,000 |
| Wyndham Vale | -$60,050 ($661,050, $601,000) · median weekly rent $450 · median land component $338,000 |
| Winter Valley | -$64,250 ($709,250, $645,000) · median weekly rent $470 · median land component $299,250 |
| Beveridge | -$72,000 ($717,000, $645,000) · median weekly rent $470 · median land component $340,000 |
| Grantville | -$73,000 ($718,000, $645,000) · median land component $305,000 |
Source: live builder package feeds against REIV quarterly suburb medians, alongside PropertyData rental listings, live builder package feeds
The obvious objection.
Live packages in the three suburbs where new is currently the cheaper number.
