--- title: "How much does it cost to buy a house in Australia? — Chec..." description: "The national median house price reached $925,500 in the year to March 2026, but the deposit is only one part of the cash required at settlement. Stamp duty, leg" lang: en-AU json-ld: | { "@context": "https://schema.org", "@type": "Article", "headline": "How much does it cost to buy a house in Australia?", "description": "The national median house price reached $925,500 in the year to March 2026, but the deposit is only one part of the cash required at settlement. Stamp duty, legal fees, registration charges and settlement adjustments can add thousands of dollars beyond the deposit, depending on the state and purchase price.", "image": [ "https://plus.unsplash.com/premium_photo-1661752229232-96232a11c62b?q=80&w=870&auto=format&fit=crop&ixlib=rb-4.1.0&ixid=M3wxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHx8fA%3D%3D" ], "datePublished": "2026-06-08T00:00:00+00:00", "dateModified": "2026-07-08T03:03:24.032424+00:00", "author": { "@type": "Organization", "name": "CheckRate" }, "publisher": { "@type": "Organization", "name": "CheckRate" }, "mainEntityOfPage": { "@type": "WebPage", "@id": "https://checkrate.com.au/cost-to-buy-a-house" } } --- [CheckRate ](/) [Library](/articles) Back Housing # How much does it cost to buy a house in Australia? The national median house price reached $925,500 in the year to March 2026, but the deposit is only one part of the cash required at settlement. Stamp duty, legal fees, registration charges and settlement adjustments can add thousands of dollars beyond the deposit, depending on the state and purchase price. 12 min read 08 June 2026 Updated 08 July 2026 Fact checked In this article 1. [What upfront costs apply when buying a house?](#what-upfront-costs-apply-when-buying-a-house) 2. [How much deposit is needed to buy a house in Australia?](#how-much-deposit-is-needed-to-buy-a-house-in-australia) 3. [How much does lenders mortgage insurance cost in Australia?](#how-much-does-lenders-mortgage-insurance-cost-in-australia) 4. [Which state has the highest stamp duty in Australia?](#which-state-has-the-highest-stamp-duty-in-australia) 5. [How much are conveyancing fees when buying a house?](#how-much-are-conveyancing-fees-when-buying-a-house) 6. [How much do building and pest inspections cost?](#how-much-do-building-and-pest-inspections-cost) 7. [How much do moving and setup costs add after buying a house?](#how-much-do-moving-and-setup-costs-add-after-buying-a-house) 8. [What extra costs are paid at property settlement?](#what-extra-costs-are-paid-at-property-settlement) 9. [How much cash is needed to buy an $800,000 NSW home?](#how-much-cash-is-needed-to-buy-an-800000-nsw-home) 10. [First-home buyer grants, concessions and guarantee schemes](#first-home-buyer-grants-concessions-and-guarantee-schemes) 11. [Estimate your total upfront buying costs](#estimate-your-total-upfront-buying-costs) Key findings $926k National median established house price in the year to March 2026, up from **$908k** in the 2025 calendar year $54,151 Stamp duty on the NSW mean dwelling price of **$1,324,800**, at current NSW rates 11.2yrs Time for a median-income household to save a **20% deposit**, 2025 $185k 20% deposit benchmark on the national median house price of **$925,500**, for the year to March 2026 Section 01 Upfront costs ## What upfront costs apply when buying a house? Applying a 5% allowance for non-deposit upfront costs to the national median house price of **$925,500** adds around **$46,275** to the cash required at settlement. On the national mean dwelling price of **$1,111,100**, the same 5% allowance amounts to around **$55,555**. The exact amount depends on the state, property type, purchase price, and whether first-home buyer concessions apply. Buying costs fall into two categories. The deposit is the buyer's equity contribution toward the property: it reduces the loan amount and builds ownership. Most other upfront costs are transactional and are paid at or before settlement. These can include stamp duty, conveyancing, registration charges and settlement adjustments, as well as building, pest or strata inspection fees and moving costs in some transactions. Unlike lenders mortgage insurance, most of these costs are usually paid separately rather than added to a standard mortgage. Deposit All buyers 5%–20% Of purchase price · $46,275–$185,100 on national median Usually the largest upfront cash component. A 20% deposit usually avoids LMI. A 5% deposit is a lower upfront deposit, but usually triggers lenders mortgage insurance unless an exemption or guarantee applies. Stamp duty Most buyers $28,949–$54,151 Varies by state · At mean dwelling price, current rates Usually the largest transactional cost. The amount varies by state, purchase price and concession eligibility. Tasmania is lowest at the mean dwelling price; NSW is highest. Lenders mortgage insurance Deposit < 20% $6,500–$35,500 Triggered when LVR exceeds 80% · Usually added to loan Paid by the borrower but protects only the lender. On an $800,000 property, a 5% deposit triggers around $34,000–$35,500 in LMI, roughly double the cost at a 10% deposit. Conveyancing and legal All buyers $1,180–$2,150 Including disbursements and PEXA · Settlement adj. add $1,500–$3,500 Covers title transfer, statutory searches, and digital settlement. Settlement adjustments for prepaid council rates and water charges are due on the same day. Building and pest inspection Most buyers $500–$1,000+ Combined building and pest · $600–$750 for standard house in Sydney or Melbourne A building and pest inspection report can identify visible structural, moisture or pest-related issues before the contract becomes unconditional. Once settlement happens, these defects generally become the buyer's responsibility, depending on the contract and state rules. Moving and setup Most buyers $2,400–$4,900+ Removalists, utility connections, and building insurance Building insurance may be required from exchange of contracts rather than settlement, depending on the lender, contract and state rules, adding $1,000–$2,000 before possession. Removalists cost $1,200–$2,500. Stamp duty drives most of the variation between states, not the other costs In the NSW worked example, legal fees, inspections, bank fees, settlement adjustments, and moving costs add around $6,665. Similar non-duty costs apply in other states, though registry fees and settlement adjustments vary by jurisdiction. It is stamp duty that creates most of the gap between the cheapest and most expensive states to buy in. Section 02 Deposit requirements ## How much deposit is needed to buy a house in Australia? The 20% deposit benchmark ranges from **$137,620 in Darwin** to **$304,280 in Sydney**, a difference of more than $166,600 based on prices for the year to March 2026. At the national median of $925,500, a 5% deposit is $46,275, a 10% deposit is $92,550, and a 20% deposit is **$185,100**. Sydney's 20% benchmark is around 64% above the national figure and more than double Darwin's $137,620. Brisbane's median house price of $1,063,000 has moved past $1 million and overtaken Canberra's $1,042,500, making Brisbane the second-most expensive capital city market for houses, behind Sydney. Adelaide's median of $926,100 remains above Melbourne's $856,800, while Perth ($920,600) now sits within $5,500 of Adelaide, the closest the two markets have been in this series. Deposit benchmarks by capital city, year to March 2026 Based on median established house transfer prices (four-quarter average to March 2026) · Sorted by 20% deposit, highest to lowest 5% deposit 10% deposit 20% deposit Sydney's 20% deposit benchmark of $304,280 is roughly $91,700 above Brisbane's $212,600, the second-highest benchmark after Brisbane overtook Canberra ($208,500). Adelaide ($185,220) remains just ahead of Perth ($184,120) and Melbourne ($171,360), while Darwin has the lowest 20% deposit benchmark at $137,620. **Source:** ABS Total Value of Dwellings, March Quarter 2026. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) National median house price and 20% deposit benchmark, 2005–2026 National median established house transfer price, transfer-weighted across capital cities and regional areas · final point is the year to March 2026 Median house price 20% deposit benchmark The national median house price rose 201% between 2005 and the year to March 2026, from $307,100 to $925,500, a total increase of $618,400. More than half of that increase, $335,000, occurred in just the six years from 2020 to 2026. The 20% deposit benchmark increased from $61,420 to $185,100 over the full period, a rise of $123,700. **Source:** ABS Total Value of Dwellings, March Quarter 2026. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) $304,280 20% deposit benchmark for Sydney's $1.52 million median house price Sydney's 20% deposit benchmark is more than double Darwin's $137,620 and around 64% above the national benchmark of $185,100. As a simple arithmetic comparison, [saving $2,000 a month would take about 12.7 years](/house-deposit) to reach $304,280, before any further price changes. How much deposit is needed to buy a house in Australia? + Can a house be bought with a 5% deposit? + Which city has the highest deposit benchmark? + Section 03 Lenders mortgage insurance ## How much does lenders mortgage insurance cost in Australia? On an $800,000 property, LMI at 95% LVR costs an estimated **$34,000 to $35,500**. At 90% LVR, the same property attracts around $17,000. Reducing a deposit from 10% to 5% lowers the upfront deposit by $40,000, but roughly doubles the insurance cost. Most lenders allow the premium to be added to the loan, meaning interest can accrue on the premium over the life of the mortgage. Despite being paid by the borrower, LMI protects the lender rather than the borrower. If the property is sold after a default and the sale price falls short of the outstanding loan, the insurer covers the lender's loss and can then seek to recover that amount from the borrower. Most states also charge duty on the LMI premium itself, though New South Wales has exempted LMI policies from insurance duty since 1 July 2017. Where it applies, insurance duty on the LMI premium is typically 9% in Queensland, 10% in Victoria, Western Australia, the Northern Territory and Tasmania, and 11% in South Australia. Estimated LMI premiums by deposit size on an $800,000 property Standard owner-occupier loan · Indicative figures including state stamp duty on LMI premium The biggest increase occurs between 90% and 95% LVR. Moving from a 10% to a 5% deposit lowers the cash deposit by $40,000, but adds roughly $17,000 to $18,000 in estimated insurance cost. A 20% deposit usually removes the LMI requirement. **Source:** Indicative lender estimates; ASIC Moneysmart. Figures vary by lender and borrower profile. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Deposit size LVR Cash deposit ($800k) Estimated LMI premium LMI required? 20% 80% $160,000 None No LMI 15% 85% $120,000 $6,500–$9,000 LMI applies 10% 90% $80,000 $16,500–$17,500 LMI applies 5% 95% $40,000 $34,000–$35,500 LMI applies Actual LMI figures vary by lender, borrower profile, and state stamp duty on the insurance premium. Figures are indicative estimates. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) The scheme removes LMI, not the deposit requirement The Australian Government 5% Deposit Scheme (formerly the Home Guarantee Scheme) has operated with no income limits and no annual place cap since October 2025. Eligible buyers still need a 5% deposit, but the government guarantee replaces the LMI that would otherwise apply at 95% LVR. Property price caps apply by state and region and are reviewed periodically. Section 04 Stamp duty by state ## Which state has the highest stamp duty in Australia? Stamp duty, also called transfer duty, ranges from **$28,949 in Tasmania to $54,151 in New South Wales** at each state's mean dwelling price, using current rates. The $25,202 gap reflects both NSW's higher mean dwelling price and its steeper upper-bracket rates. Victoria ranks second at $51,896, despite having a mean dwelling price $377,700 lower than NSW's. Western Australia now edges out South Australia for third place, $47,946 to $47,351, a gap of less than $600. Stamp duty is [charged by state and territory governments](/stamp-duty-by-state) using progressive rate structures. As property prices rise, more homes move into higher duty brackets. This has increased the effective duty cost on ordinary homes in several major markets. Standard stamp duty at the mean dwelling price by state, current rates Standard owner-occupier rate · No first-home buyer concessions · Sorted highest to lowest · Monthly equivalent shown (÷ 12) NSW $54,151 $4,513/mo VIC $51,896 $4,325/mo WA $47,946 $3,996/mo SA $47,351 $3,946/mo QLD $37,963 $3,164/mo ACT $35,110 $2,926/mo NT $29,566 $2,464/mo TAS $28,949 $2,412/mo NSW and Victoria record the highest stamp duty liabilities despite having different mean dwelling prices, because Victoria's rate structure applies steep upper-bracket rates that produce a large bill even at $947,100. Western Australia has edged past South Australia into third place by less than $600. Queensland's lower figure reflects a concessional home rate that applies to all owner-occupiers. **Source:** ABS Total Value of Dwellings, March Quarter 2026; State Revenue Offices, current standard duty schedules. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) State/territory Mean dwelling price Standard stamp duty FHB full exemption cap FHB saving New South Wales $1,324,800 $54,151.00 $800,000 $0 (above threshold) Victoria $947,100 $51,896.00 $600,000 $0 (above threshold) Western Australia $1,103,500 $47,946.00 $500,000 $0 (above threshold) South Australia $973,100 $47,351.00 No established-home exemption $0 for established homes Queensland $1,123,700 $37,963.00 $700,000 existing; uncapped new builds $0 for existing homes ACT $1,018,000 $35,110.00 No cap; no income test $35,110 (full duty, if eligible) Northern Territory $597,300 $29,566.00 None (cash grant instead) $0 Tasmania $750,300 $28,949.00 None (exemption ended 30 June 2026) $0 (concession has ended) Stamp duty figures apply each state's current standard progressive rate to the ABS mean dwelling price for March 2026. From 1 July 2026, eligible first-home buyers in the ACT are exempt from conveyance duty under the Home Buyer Concession Scheme, with no property value cap or income test. Tasmania's established-home duty exemption applied to purchases settling on or before 30 June 2026 and was not extended; standard duty now applies regardless of price. Reference: ABS Total Value of Dwellings, March Quarter 2026; State Revenue Offices, current rates. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) ### First-home buyer stamp duty concessions For established homes, the ACT is now the only jurisdiction in this comparison where eligible first-home buyers receive a full stamp duty exemption with no property price cap and no income test, following changes that took effect on 1 July 2026. Queensland and South Australia also offer uncapped exemptions, but only for eligible new builds, not established homes. Every other established-home exemption either caps out below current mean dwelling prices, doesn't exist (South Australia), or has expired (Tasmania, from 1 July 2026). How much is stamp duty in Australia? + Do first-home buyers pay stamp duty in Australia? + Section 05 Conveyancing and legal fees ## How much are conveyancing fees when buying a house? Conveyancing costs for a standard residential purchase typically range from **$1,180 to $2,150**. This covers the professional fee, statutory searches and the mandatory PEXA electronic settlement charge. A licensed conveyancer or solicitor usually manages the title transfer, coordinates with the mortgage lender and handles settlement. The fee has two main parts: the professional service fee and disbursements. Disbursements are third-party or government charges for title searches, planning certificates, council checks and water clearances. Settlement adjustments are a separate cash cost due at settlement. Where the vendor has prepaid council rates, water charges or body corporate levies beyond the settlement date, the buyer reimburses the vendor for the unused portion. These adjustments typically add **$1,500 to $3,500**, with the higher end more common for strata properties where quarterly levies can be significant. Cost component Typical range Description Professional legal fee $800–$1,500 Contract review, title transfer, and legal execution Disbursements and searches $250–$500 Title searches, planning certificates, council and water clearances Electronic settlement (PEXA) $130–$150 Mandatory fee for digital title and funds transfer **Total estimated cost** **$1,180–$2,150** **Standard residential purchase** The PEXA fee is a platform charge for electronic settlement and applies to most residential transactions completed through electronic conveyancing. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Section 06 Building and pest inspections ## How much do building and pest inspections cost? Indicative market pricing puts a combined building and pest inspection at around $500 to $1,000 for a standard property, with Sydney and Melbourne usually at the higher end. Inspections are not legally required in all transactions, but after settlement, structural and pest-related defects generally become the buyer's responsibility, depending on the contract and state rules. A report usually covers accessible areas such as the roof void, subfloor, retaining walls and load-bearing elements, as well as visible signs of termites, timber borers and moisture damage. Costs vary by property size and location. Lower-cost inspections of around $300 may involve less time on site or a more standardised report template, offering less detail than a more comprehensive inspection. Market Apartment/unit Standard 3–4 bed house Large or complex home Sydney metro $400–$550 $600–$750 $800–$1,000+ Melbourne metro $400–$550 $600–$750 $800–$1,000+ Brisbane / Gold Coast $350–$500 $550–$700 $700–$800+ Regional areas $300–$450 $500–$650 $650–$900 Source: NSW Fair Trading and Consumer Affairs Victoria for pre-purchase inspection guidance. Indicative cost ranges, including the structural engineer's report estimate, are based on industry market data and vary by property size, location, access and inspection scope. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Section 07 Moving and setup costs ## How much do moving and setup costs add after buying a house? Moving and setup costs typically add around $2,400 to $4,900 for a standard three-bedroom home. The main costs are removalists, estimated at $1,200 to $2,500, building insurance, estimated at $1,000 to $2,000 per year, and utility connections for NBN, electricity and gas, estimated at $200 to $400. Building insurance may need to be in place before settlement, depending on the lender, contract and state rules, so the first premium can fall due before moving day. Cost item Typical range Professional removalists (3-bedroom move) $1,200–$2,500 Utility connections (NBN, electricity, gas) $200–$400 Building insurance (annual premium) $1,000–$2,000 **Total estimated moving and setup** **$2,400–$4,900+** Indicative cost ranges based on industry market data, including removalist and insurance cost benchmarks. Building insurance premiums vary significantly by state, property type, insurer and sum insured. Utility connection costs vary by provider and state. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Section 08 Bank fees, registration and settlement adjustments ## What extra costs are paid at property settlement? Bank fees, registration charges and settlement adjustments can add **around $1,400 to more than $5,300** to the total cash needed at settlement, depending on the state, property value and settlement adjustments. These three cost categories cover lender fees, government land registry charges and pro-rata reimbursements to the vendor. Unlike LMI, these costs are generally paid in cash at settlement rather than added to the mortgage. ### Bank application and valuation fees Most lenders charge an application or establishment fee to cover underwriting and loan setup. Some also require an independent property valuation to confirm that the property supports the loan amount. These fees are sometimes waived, particularly in competitive lending environments. Fee Typical range Notes Application/establishment fee $500–$1,000 Covers loan underwriting and facility setup; sometimes waived Property valuation fee $200–$300 Independent valuation to confirm security value; often absorbed by lender **Total estimated bank fees** **$700–$1,300** Source: ASIC Moneysmart; lender fee schedules. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) ### Mortgage and title registration fees Mortgage registration fees range from $125.70 in Victoria to $238.14 in Queensland, based on the most recently published schedules cited in this article. Mortgage registration is a fixed government charge that records the lender's security interest against the property title. A separate title transfer fee records the change of ownership. These fees are reviewed periodically and typically change on 1 July, so figures can vary by jurisdiction and transaction date. In most states, the title transfer fee varies by property value and is charged on top of the fixed mortgage registration fee. NSW is the exception in this comparison, with a flat $182.73 fee for both mortgage registration and title transfer, effective from 1 July 2026. State/territory Mortgage registration Title transfer fee Combined total Queensland $238.14 Varies by value $238.14+ Western Australia $216.60 Varies by value $216.60+ South Australia $198.00 Varies by value $198.00+ ACT $178.00 Varies by value $178.00+ Northern Territory $176.00 Varies by value $176.00+ New South Wales $182.73 $182.73 $365.46 Tasmania $163.30 Varies by value $163.30+ Victoria $125.70 Varies by value $125.70+ Mortgage registration fees are fixed government charges. Title transfer fees vary by property value in most states. NSW figures reflect the NSW LRS schedule effective 1 July 2026. Other states' figures are drawn from the most recently published schedules cited in this article, but have not all been independently reconfirmed for the same effective date. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) ### Settlement adjustments Settlement adjustments are cash payments calculated at settlement. When a vendor has prepaid council rates, water charges or body corporate levies for a period that extends beyond settlement, the buyer reimburses the vendor for the unused days. The conveyancer calculates the amount based on the settlement date and the daily rate of each charge. Like the other costs in this section, settlement adjustments are generally paid in cleared funds on settlement day and are not usually added to the mortgage. Adjustment type Typical amount Applies to Council rates (pro-rata) $400–$600 All properties Water availability charges (pro-rata) $200–$300 All properties Body corporate/strata levies (pro-rata) $1,000–$2,500 Units and apartments only **Total estimated settlement adjustments** **$600–$3,400** **Varies by property type and settlement timing** Settlement adjustment amounts depend on the timing of the settlement within the billing cycle. A settlement early in a quarterly billing period produces the highest reimbursement to the vendor. Source: State council rate schedules and conveyancing provider guidance. Figures are indicative and vary by property type, settlement date and local charges. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) These costs are usually paid in cash at settlement Bank fees, registration charges and settlement adjustments are generally paid in cash at settlement. Unlike LMI, they are not usually capitalised into the loan. They can still apply when the buyer qualifies for stamp duty concessions. Taken together, stamp duty, conveyancing, bank fees, registration charges and settlement adjustments can add tens of thousands of dollars to the cash required at settlement, depending on the state, purchase price and concession eligibility. Section 09 Total cost: a worked example ## How much cash is needed to buy an $800,000 NSW home? To purchase an $800,000 established home in New South Wales with a 10% deposit, a buyer would need an estimated $116,852 in cash at settlement, using current NSW duty and registration rates. That is more than $36,000 above the deposit alone. Stamp duty accounts for $30,187 of that gap. The remaining $6,665 covers legal fees, inspections, bank fees, registration charges, settlement adjustments and moving costs. LMI at 90% LVR adds approximately $17,000 to the loan, but because it is capitalised in this example, it is not included in the cash settlement total. $116,852 Estimated cash needed to buy an $800,000 NSW home with a 10% deposit Includes $80,000 deposit, $30,187 in stamp duty, and a further $6,665 across legal fees, inspections, registration, adjustments, and moving costs. An additional $17,000 LMI premium is capitalised into the loan and not counted here. Cost item Amount Notes Deposit (10%) $80,000 Equity contribution toward the property Stamp duty (NSW) $30,187 Current standard progressive rate on $800,000 transfer Conveyancing and legal fees $1,600 Professional fee, statutory searches, PEXA settlement Building and pest inspection $600 Combined inspection for a standard Sydney property Bank application and valuation fee $800 Establishment fee and independent property valuation Mortgage registration fee (NSW) $182.73 NSW Land Registry charge for recording lender's security Title transfer registration fee $182.73 NSW Land Registry charge for change of ownership Settlement adjustments $1,500 Pro-rata reimbursement for prepaid council and water rates Moving, utilities, and building insurance $1,800 Removalists, connections, first year of building insurance **Total cash required at settlement** **$116,852** **Excludes approximately $17,000 LMI capitalised into the loan** Assumes an established home, no first-home buyer concession eligibility and LMI capitalised into the loan. Stamp duty uses the NSW standard progressive rate effective from 1 July 2026. Source: Revenue NSW; ASIC Moneysmart; NSW Land Registry Services, 2026–27 fee schedule. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Non-deposit upfront cost breakdown, $800,000 NSW purchase Cash costs at settlement excluding the $80,000 deposit ($36,852 total) Stamp duty ($30,187) Moving & setup ($1,800) Conveyancing ($1,600) Settlement adj. ($1,500) Bank & reg. fees ($1,165) Inspection ($600) Stamp duty makes up 82% of the non-deposit costs in this example. The remaining $6,665 in legal fees, inspections, bank charges, and moving costs is broadly consistent across all states. Stamp duty accounts for most of the state-level variation in this example. **Source:** Revenue NSW; NSW Land Registry Services; ASIC Moneysmart; Australian Institute of Conveyancers. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Section 10 Government grants and concessions ## First-home buyer grants, concessions and guarantee schemes Since October 2025, the Australian Government 5% Deposit Scheme, formerly the Home Guarantee Scheme, has had no income limits, no waitlists and expanded access. Eligible buyers, including [first-home buyers](/first-home-buyers) and people who have not owned property in the past ten years, may qualify with a 5% deposit while the government guarantees part of the loan. This removes the LMI that would otherwise apply at 95% LVR. On an $800,000 property, the LMI cost that would otherwise apply at 95% LVR is estimated at $34,000 to $35,500. Property price caps still apply by state and region. In NSW capital city and regional centres, the cap is $1,500,000. In Queensland capital city and regional centres, the cap is $1,000,000. These caps are reviewed periodically. State cash grants usually apply to new builds First Home Owner Grants are available in every state and territory, but they are now mostly linked to newly built or substantially renovated homes. The Northern Territory is the exception in this comparison, offering a $50,000 grant instead of stamp duty concessions. Outside the Northern Territory, grant amounts include $10,000 in NSW, Victoria and Western Australia, $15,000 in South Australia, $20,000 in Tasmania from 1 July 2026 and $30,000 in Queensland for eligible new homes. State FHB exemption (established) FHB exemption (new builds) Cash grant NSW Up to $800,000; partial to $1,000,000 Up to $800,000; partial to $1,000,000 $10,000 (new builds to $600k) VIC Up to $600,000; partial to $750,000 Up to $600,000; partial to $750,000 $10,000 (new builds to $750k) QLD Up to $700,000; partial to $800,000 Uncapped (from May 2025) $30,000 for eligible new homes, with the increased grant continuing beyond 30 June 2026 WA Up to $500,000; partial to $700,000 metro Up to $500,000; partial to $700,000 $10,000 SA No established-home exemption Uncapped $15,000 (new builds, no cap) TAS None (ended 30 June 2026) Up to $750,000 (permanent) $20,000 (new builds, from 1 July 2026) ACT Uncapped, no income test (from 1 July 2026) Uncapped, no income test (from 1 July 2026) None NT None None $50,000 Tasmania's established-home duty exemption applied to purchases settling on or before 30 June 2026 and was not extended. Its new-build First Home Owner Grant reduced from $30,000 to $20,000 from 1 July 2026. Queensland's $30,000 First Home Owner Grant has been extended beyond 30 June 2026. Eligibility criteria and thresholds vary by state and territory and change periodically. Source: Housing Australia; State Revenue Offices. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) What government help is available for first-home buyers? + General information only The data and figures in this article are sourced from the ABS and publicly available government and industry data. This article is general information only and does not constitute financial, legal or tax advice. Buying and financing decisions depend on individual circumstances. Section 11 Upfront cost calculator ## Estimate your total upfront buying costs Enter a state, purchase price, and deposit size to estimate the total cash needed at settlement. Stamp duty is calculated using each state's standard progressive rate schedule, with first-home buyer concessions applied where the purchase price falls within the relevant threshold. This calculator assumes an established home; new-build and vacant-land concessions in Queensland, South Australia and elsewhere are not modelled. Upfront cost estimator Stamp duty based on current standard owner-occupier rates for each state (NSW rates effective from 1 July 2026). LMI is indicative only and shown as capitalised into the loan. All figures are estimates; use official state revenue calculators for exact amounts. State or territory NSWVICQLDSAWATASACTNT Purchase price $ Deposit: 5%10%20% First-home buyer? NoYes Total cash at settlement $223,769 Deposit + stamp duty + all upfront costs Deposit $152,140 10% of $1,521,400 Non-deposit costs $71,629 Stamp duty, legal, inspection, moving Cost breakdown Deposit (10%) $152,140 Stamp duty $64,964 Conveyancing & legal $1,600 Settlement adjustments $1,500 Moving & setup $1,800 Building inspection $600 Bank & reg. fees $1,165 **LMI (if applicable):** $32,330 (capitalised into loan) · LMI is added to the loan, not the cash total above. These are estimates only Stamp duty calculations use each state's current standard progressive rate schedule (NSW effective from 1 July 2026; ACT eligible owner-occupier rate current since 1 July 2025). Thresholds are typically indexed or revised annually, so figures should be reconfirmed at the time of purchase. Non-duty costs (legal fees, inspection, bank and registration fees, settlement adjustments and moving) use NSW-indicative figures and are held constant across states in this calculator; actual figures vary by jurisdiction, as shown in Sections 05 to 08. LMI premiums vary by lender and borrower profile. First-home buyer concessions are subject to eligibility criteria and change periodically. Several jurisdictions altered or ended concessions in 2026, including the ACT's move to full, uncapped duty exemption and Tasmania's expired established-home exemption. Always verify costs with the relevant state revenue office, your lender, and a licensed conveyancer before exchange of contracts. ## REFERENCES 1. 1. [Australian Bureau of Statistics, Total Value of Dwellings, March Quarter 2026](https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/total-value-dwellings/latest-release): national mean dwelling price, state mean dwelling prices and median established house transfer prices. 2. 2. [National Housing Supply and Affordability Council, State of the Housing System 2026](https://nhsac.gov.au/news/state-housing-system-2026): time needed for a median-income household to save a 20% deposit in 2025. 3. 3. [ASIC Moneysmart, Buying a home](https://moneysmart.gov.au/buying-a-house): deposit, upfront buying costs and lenders mortgage insurance context. 4. 4. [ASIC Moneysmart, Lenders mortgage insurance](https://moneysmart.gov.au/home-loans/lenders-mortgage-insurance): LMI definition, lender-protection context and 80% loan-to-value threshold. 5. 5. [Revenue NSW, Transfer duty, 2026–27 rates](https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/transfer-duty/understanding-transfer-duty/calculate-transfer-duty): NSW transfer duty rates and thresholds. 6. 6. [State Revenue Office Victoria, Land transfer duty, current rates](https://www.sro.vic.gov.au/buying-property/land-transfer-stamp-duty): Victorian transfer duty rates and first-home buyer concessions. 7. 7. [Queensland Revenue Office, Transfer duty home concession rates, current rates](https://qro.qld.gov.au/duties/transfer-duty/calculate/concession-rates/): Queensland home and first-home buyer transfer duty rates. 8. 8. [RevenueSA, Stamp duty relief for eligible first home buyers, current rates](https://www.revenuesa.sa.gov.au/stamp-duty/first-home-buyer-relief): South Australian first-home buyer stamp duty relief. 9. 9. [WA Department of Finance, Duties fact sheet, First Home Owner Rate, current rates](https://www.wa.gov.au/government/publications/duties-fact-sheet-first-home-owner-rate): Western Australian transfer duty and first-home buyer duty rates. 10. 10. [State Revenue Office Tasmania, Property transfer duty concessions and exemptions, 2026](https://www.sro.tas.gov.au/property-transfer-duties/concessions-exemptions): Tasmanian transfer duty concessions and ended established-home duty relief. 11. 11. [ACT Revenue Office, Home Buyer Concession Scheme, from 1 July 2026](https://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-concession-scheme/about-the-home-buyer-concession-scheme): ACT first-home buyer conveyance duty exemption. 12. 12. [Territory Revenue Office, Stamp duty and grants, 2025–26](https://treasury.nt.gov.au/dtf/territory-revenue-office): Northern Territory stamp duty schedules and first-home buyer grant information. 13. 13. [Australian Government, 5% Deposit Scheme, from 1 October 2025](https://firsthomebuyers.gov.au/australian-government-5-percent-deposit-scheme): eligibility, no income caps, no waitlists and no lenders mortgage insurance. 14. 14. [Australian Government, 5% Deposit Scheme Property Price Caps, current caps](https://firsthomebuyers.gov.au/australian-government-5-percent-deposit-scheme/property-price-caps): state and regional property price caps. 15. 15. [Queensland Government, First Home Owner Grant, 2026](https://www.qld.gov.au/housing/buying-owning-home/home-buyers-financial-help/first-home-owner-grant): $30,000 grant for eligible new homes and extension beyond 30 June 2026. 16. 16. [Australian Institute of Conveyancers](https://www.aicnational.com.au/): conveyancing fee context, indicative conveyancing cost context. 17. 17. [NSW Fair Trading, Pre-purchase property inspection reports](https://www.nsw.gov.au/housing-and-construction/buying-and-selling-property/buying-property/inspect-property): pre-purchase inspection scope and buyer report context. 18. 18. [Consumer Affairs Victoria, Inspect properties before buying](https://www.consumer.vic.gov.au/housing/buying-and-selling-property/checklists/inspect-properties-before-you-buy): pre-purchase inspection context and provider variation. ## Data Snapshots ![national median house price and 20 deposit benchmark 2005 2026](https://eznpqfufanyahmlyjhnj.supabase.co/storage/v1/object/public/article-covers/snapshots/03e517d2-481e-4723-8c56-1d8b1b238848/national-median-house-price-and-20-deposit-benchmark-2005-2026-feqm.jpg) National median house price in Australia and 20% deposit benchmark ![deposit benchmarks by capital city year to march 2026](https://eznpqfufanyahmlyjhnj.supabase.co/storage/v1/object/public/article-covers/snapshots/03e517d2-481e-4723-8c56-1d8b1b238848/deposit-benchmarks-by-capital-city-year-to-march-2026-2zn8.jpg) Deposit benchmarks by capital city in Australia ## Related research [ ![Most affordable states for first-home buyers in Australia](https://eznpqfufanyahmlyjhnj.supabase.co/storage/v1/object/public/article-covers/03e517d2-481e-4723-8c56-1d8b1b238848/1783042869637.jpg) Housing 03 July 2026 · 14 min read ### Most affordable states for first-home buyers in Australia Tasmania has the lowest mean dwelling price of any Australian state and the smallest average first-home buyer loan. 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