The Australian Government 5% Deposit Scheme gives you the flexibility to choose the type of home that suits your lifestyle, location, and budget, right across Australia. Choose from new or existing houses, townhouses, apartments, house and land packages, off-the-plan purchases, or vacant land with a building contract – all below location-specific price caps.
Both the purchase price and the home's value (as assessed by your Participating Lender) must stay at or below the cap. For building a new home on vacant land with separate contracts, the total land price plus build costs need to come in under the cap too. The home's value might differ from the purchase price – if that happens, talk with your Participating Lender to see what it means for you.
Ready to check? Use the Postcode Search Tool to find the price cap for your desired location. It's only a guide – confirm with your Participating Lender for any home you're considering buying.
| State | Capital city and regional centres* | Other areas |
|---|---|---|
| New South Wales | $1,500,000 | $800,000 |
| Victoria | $950,000 | $650,000 |
| Queensland | $1,000,000 | $700,000 |
| Western Australia | $850,000 | $600,000 |
| South Australia | $900,000 | $500,000 |
| Tasmania | $700,000 | $550,000 |
*Regional centres are (1) in New South Wales - Illawarra, Newcastle and Lake Macquarie, (2) in Victoria - Geelong, and (3) in Queensland - Gold Coast and Sunshine Coast.
| Territory | All areas |
|---|---|
| Australian Capital Territory | $1,000,000 |
| Northern Territory | $600,000 |
| Jervis Bay Territory & Norfolk Island | $550,000 |
| Christmas Island & Cocos (Keeling) Islands | $400,000 |
You can search the price cap for a specific location by using the Postcode Search Tool.
To use the tool, enter the suburb/postcode of the location you want to buy in, and click "search".