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Briar Hill is a small pocket between Montmorency and Greensborough, known for its steep leafy streets and split-level homes built to suit them. It is a quiet, established suburb with a strong family market and not a great deal of turnover.
The topography here is the defining feature. Briar Hill is genuinely hilly, and a large share of homes are split-level or built into a slope. That is charming to live in and it has real consequences if you plan to renovate or extend, because building on a slope costs materially more than building on flat ground.
For a construction loan that matters, because the lender assesses against a fixed price contract and the on-costs for site works, retaining and access on a steep block can be substantial. Builders’ quotes for sloping sites vary widely, and a quote that has not properly accounted for the site is where renovation projects come unstuck.
For straight purchases, the lending is conventional. Briar Hill homes are standard construction, valuations are reasonably predictable, and the usual first home and upgrader paths apply.
Site works, retaining and access add real cost. We make sure the contract and the loan reflect the actual site.
Extending a split-level home is more involved than a flat block. Staged finance matched to a realistic build programme.
Conventional construction and predictable valuations. The work is in getting your approval solid before you compete.
Whatever stage you are at, there is a path through it. Pick the one that sounds like you.
For a purchase, generally not. Lenders assess the completed property’s value, and a valuer will already have factored the site into that figure. Where slope matters is construction: the cost to build is higher, so you need to borrow more for the same finished result. That is a budgeting question rather than a lending obstacle.
Look for site costs, excavation, retaining walls and access to be itemised rather than assumed. A fixed price contract that has not allowed for a sloping site is where budgets blow out, and lenders will not simply increase a construction loan mid-build because the quote was optimistic. It is worth getting the contract reviewed before you sign.
Usually, though it tends to be more complex and more expensive than extending a single-level home, because you are working with existing levels and structure. From a finance point of view the approach is the same: approved plans, fixed price contract, staged drawdowns. Just budget realistically for the complexity.
It can be, though stock is limited and it is not the cheapest part of Banyule. Whether it works depends on your borrowing capacity and deposit rather than the suburb. Neighbouring Greensborough typically offers more listings at a similar level, so it is worth looking at both. We can tell you what price bracket you are realistically in.
Book a free consultation and we will walk you through your options, what you can borrow, and what it will cost.
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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.