Determining a precise cost per square meter for renovations in Melbourne is complex, as it varies significantly based on the scope of work, quality of materials, and location within Melbourne. As of December 2025, it’s more useful to consider broad ranges and understand how renovation spend impacts property value.
Currently in Melbourne, particularly in the Eastern Suburbs where Fletchers specialises, basic cosmetic renovations – such as painting, new carpets, and minor kitchen updates – can range from $800 to $1,500 per square meter. More substantial renovations, including kitchen and bathroom remodels, or structural changes, typically fall between $2,000 and $4,000+ per square meter. In 2026, we’re observing that buyers in areas like Balwyn and Doncaster strongly favour properties with updated kitchens and bathrooms, often willing to pay a premium. It’s important to realise that spending more doesn’t always guarantee a proportional return; strategic updates that address buyer priorities are key. Fletchers’ experience shows that focusing on presentation – light, space, and a neutral colour palette – often delivers the best results. A full renovation isn’t always necessary; sometimes, targeted improvements are more effective. We often advise sellers to consider the potential uplift in value versus the renovation cost, and how that aligns with the current market conditions.
Understanding these cost ranges helps sellers in Melbourne realistically assess renovation budgets and optimise their property for sale, maximising its appeal to potential buyers.