Updated
- Median house price
- $926k
- National median established house price in the year to March 2026, up from $908k in the 2025 calendar year
- NSW stamp duty
- $54,151
- Stamp duty on the NSW mean dwelling price of $1,324,800, at current NSW rates
- Years to save
- 11.2yrs
- Time for a median-income household to save a 20% deposit, 2025
- 20% deposit benchmark
- $185k
- 20% deposit benchmark on the national median house price of $925,500, for the year to March 2026
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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
5%–20% · Of purchase price · $46,275–$185,100 on national median · All buyers
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
$28,949–$54,151 · Varies by state · At mean dwelling price, current rates · Most buyers
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
$6,500–$35,500 · Triggered when LVR exceeds 80% · Usually added to loan · Deposit < 20%
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
$1,180–$2,150 · Including disbursements and PEXA · Settlement adj. add $1,500–$3,500 · All buyers
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
$500–$1,000+ · Combined building and pest · $600–$750 for standard house in Sydney or Melbourne · Most buyers
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
$2,400–$4,900+ · Removalists, utility connections, and building insurance · Most buyers
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.
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.
How much deposit is needed to buy a house in Australia?
Most lenders accept a minimum deposit of 5%. A 20% deposit usually avoids lenders mortgage insurance (LMI). At the national median house price of $925,500, a 5% deposit is $46,275 and a 20% deposit is $185,100. In Sydney, where the median house price for the year to March 2026 is $1,521,400, the 20% benchmark is $304,280.
Can a house be bought with a 5% deposit?
A 5% deposit is accepted by many lenders, but a 95% loan-to-value ratio usually triggers lenders mortgage insurance. On an $800,000 property, LMI at 95% LVR typically costs $34,000 to $35,500 and is usually added to the loan. Eligible first-home buyers may have LMI removed under the Australian Government 5% Deposit Scheme (formerly the Home Guarantee Scheme), which allows a 5% deposit with the government guaranteeing the remaining 15%.
Which city has the highest deposit benchmark?
Sydney has the highest 20% deposit benchmark. On Sydney's median house price of $1,521,400 for the year to March 2026, the 20% benchmark is $304,280. Brisbane is now second at $212,600, having overtaken Canberra at $208,500. Darwin has the lowest 20% deposit benchmark at $137,620. Adelaide's benchmark, at $185,220, remains just above Perth's $184,120 and Melbourne's $171,360.
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.
| 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 |
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 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.
| 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) |
Source · ABS Total Value of Dwellings, March Quarter 2026; State Revenue Offices, current rates
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?
At each state's current mean dwelling price, stamp duty ranges from $28,949 in Tasmania to $54,151 in New South Wales. On the national median house price of $925,500, NSW stamp duty is approximately $35,835 at the current standard rate. Queensland applies a concessional home rate to owner-occupiers, which produces a lower duty bill than the standard investor rate at the same purchase price.
Do first-home buyers pay stamp duty in Australia?
It depends on the state, purchase price and eligibility rules. Since 1 July 2026, eligible first-home buyers in the ACT pay no conveyance duty at all on established homes, regardless of price or income. This is the only full, uncapped established-home exemption in the country (Queensland and South Australia have uncapped exemptions too, but only for new builds). Elsewhere, full exemptions apply only below a set price threshold, or not at all: at current mean dwelling prices, every other state and territory's mean price exceeds its exemption cap, has no established-home exemption, or the concession has expired (as in Tasmania).
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 |
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, pre-purchase inspection guidance
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+ |
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
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+ |
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 |
Source · State council rate schedules and conveyancing provider guidance
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.
| 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 |
Source · Revenue NSW; ASIC Moneysmart; NSW Land Registry Services, 2026–27 fee schedule
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 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 | 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 |
Source · Housing Australia; State Revenue Offices
What government help is available for first-home buyers?
The main federal program is the Australian Government 5% Deposit Scheme (formerly the Home Guarantee Scheme), which can remove LMI for eligible buyers using a 5% deposit. Since October 2025, the Australian Government 5% Deposit Scheme has had no income limits, no waitlists and expanded access. Most states and territories also offer stamp duty exemptions or concessions below set price thresholds, plus First Home Owner Grants for eligible new builds. The ACT is the exception: since 1 July 2026 it has abolished conveyance duty entirely for eligible first-home buyers, with no price cap and no income test. Elsewhere, eligibility for a meaningful stamp duty saving still depends heavily on the state, purchase price, property type and buyer circumstances.
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
Estimate the cash you need at settlement — deposit, stamp duty and the other upfront costs — for a home in your state.
References
- ABS Total Value of Dwellings, March quarter 2026 · Australian Bureau of Statistics
- NHSAC State of the Housing System 2026 · nhsac.gov.au
- ASIC Moneysmart, Buying a home · moneysmart.gov.au
- ASIC Moneysmart, Lenders mortgage insurance · moneysmart.gov.au
- Revenue NSW — Calculate Transfer Duty · revenue.nsw.gov.au
- State Revenue Office Victoria, Land transfer (stamp) duty · sro.vic.gov.au
- Queensland Revenue Office — Transfer Duty Concession Rates · qro.qld.gov.au
- RevenueSA — Stamp duty relief for eligible first home buyers · revenuesa.sa.gov.au
- Duties fact sheet — First Home Owner Rate of Duty · wa.gov.au
- State Revenue Office Tasmania, Property transfer duty concessions and exemptions, 2026 · sro.tas.gov.au
- About the Home Buyer Concession Scheme · revenue.act.gov.au
- Territory Revenue Office, Stamp duty and grants, 2025-26 · treasury.nt.gov.au
- Australian Government 5% Deposit Scheme, 2026 · firsthomebuyers.gov.au
- 5% Deposit Scheme property price caps · firsthomebuyers.gov.au
- Queensland Government, First Home Owner Grant, 2026 · qld.gov.au
- Australian Institute of Conveyancers · aicnational.com.au
- NSW Fair Trading, Pre-purchase property inspection reports · nsw.gov.au
- Consumer Affairs Victoria, Inspect properties before buying · consumer.vic.gov.au