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Ashburton is a settled family suburb built largely in the post-war years, with the High Street shops, good primary schools and a housing stock that has been steadily renovated over the last two decades. It sits at a slightly more accessible level than its Boroondara neighbours.
Ashburton has changed considerably. What was once a modest post-war suburb is now firmly inner east in price, and much of the original housing has been renovated or replaced. The remaining unrenovated homes are bought largely for the land and the location.
That makes it a renovation and rebuild market. Buyers acquire an original home and either extend substantially or knock down and start again, which in both cases means construction lending drawn in stages rather than a single settlement.
For first home buyers, Ashburton is at the edge of reach, and where it works it usually involves a unit or townhouse rather than a house. Those have their own considerations, particularly where the development is newer and lender concentration limits may apply.
Most original homes here are bought for the land. Both paths are construction lending, drawn in stages.
Where a house is out of reach. Worth checking building concentration limits on newer developments.
Ashburton has moved a long way. We establish what your capacity genuinely reaches before you inspect.
Whatever stage you are at, there is a path through it. Pick the one that sounds like you.
It has moved well beyond where it was, and a house is difficult at first home buyer budgets. Townhouses and units are more realistic. Whether it works depends entirely on your borrowing capacity and deposit, which we can establish quickly so you are not inspecting properties outside your range.
Sometimes, depending on the property price and the current caps. Units and townhouses are more likely to fall within thresholds than houses. Eligibility also depends on your income and whether you have owned before. It is worth checking against a specific property rather than the suburb generally.
Purchase the existing property, obtain approved plans and a fixed price contract, then draw construction funds in stages. The important point is that your borrowing capacity must support the finished position, not just the purchase, and once demolished the security is vacant land which lenders value differently. Plan both stages together.
It depends on size. Small developments of a few dwellings are generally straightforward. Larger complexes can hit lender concentration limits, where a lender caps how many units it will fund in one building. Checking whether that ceiling has been reached before you commit avoids an unpleasant surprise.
Book a free consultation and we will walk you through your options, what you can borrow, and what it will cost.
Book a free consultation
Serving clients across Australia.
Authorised Representative no. 525 778
Specialist Financial Group Australian Credit Licence no. 387025
Lydian Financial Services Victoria
Suite 1/103 Grimshaw Street, Greensborough VIC 3088, Australia
Level 12, 15 Collins Street Melbourne VIC 3000, Australia
Copyright © LYDIAN FINANCIAL SERVICES PTY LTD 2026. All Right Reserved.