Yes. In inner areas, period character features—such as Victorian, Edwardian, and Californian Bungalow styles—command a premium. In middle and outer rings, land size typically drives the overall value, while internal value is heavily influenced by the quality of kitchen and bathroom renovations.
The impact of age on value depends on whether the property offers heritage appeal or modern utility. Buyers in 2026 are balancing a preference for character with a growing interest in energy efficiency and functional layouts.
Period character and architectural appeal
In inner Melbourne, period features such as high ceilings and natural light are significant value drivers for Victorian, Edwardian, and Californian Bungalow homes. These attributes create a distinct market segment where architectural heritage often outweighs the need for modern construction.
Renovations and return on investment
The quality of internal updates determines the final sale price more than the year the home was built. Renovations to kitchens and bathrooms deliver the highest ROI, though substantial updates can make Automated Valuation Models (AVMs) less accurate as they may not reflect these internal improvements (CoreLogic/Cotality, Domain, PropTrack).
Energy efficiency and modern attributes
Buyers are increasingly asking about solar panels, double glazing, and insulation. While these features are noted during inspections, they are not yet a dominant pricing factor in most market segments.
The appraisal spread
Valuations for non-standard homes often vary. AVMs from CoreLogic/Cotality, PropTrack, and Domain are generally accurate within 5–15% for typical properties, but this accuracy diminishes for architecturally distinctive homes, properties on irregular lots, or those with very low street turnover.
Frequently asked questions
How much does a double garage add to my home’s value?
In family-oriented suburbs, a double garage adds meaningful value to a property. Buyers in these areas prioritise car accommodation for utility and convenience, making it a key differentiator during open for inspections compared to homes with single garages or carports.
Do solar panels increase the sale price of my house?
Features such as solar panels, double glazing, and insulation are increasingly noted by buyers in 2026. However, these attributes are not yet a dominant pricing factor in most market segments, meaning they support a sale rather than significantly driving the price higher.
How does land size affect the value of outer suburb homes?
In the middle and outer rings of Melbourne, land value typically drives the overall value for house-and-land packages. While the dwelling’s condition matters, the underlying land size remains the primary determinant of the property’s capital growth and total valuation.
Are AVMs accurate for renovated homes?
Automated Valuation Models (AVMs) from platforms like CoreLogic/Cotality, PropTrack, and Domain are generally accurate within 5–15% for typical properties. However, accuracy diminishes for homes that have been substantially renovated since purchase or those with architectural distinctions and irregular lots.
Questions to ask your agent
- Which specific renovations in my kitchen or bathroom will provide the highest ROI for this specific suburb?
- How does the north-facing orientation of my living areas specifically impact my property’s premium compared to neighbouring sales?
- Given my home’s unique construction or lot size, how does your CMA differ from the AVM estimates provided by CoreLogic or PropTrack?
This article contains general market information based on data current as at April 2026. It does not constitute financial, legal, or real estate advice specific to your property or circumstances. For an appraisal and tailored advice, speak with a Fletchers agent in your area.