What a 5% Deposit Actually Buys in Every Capital City (2026)

The 20% deposit is a myth now. Since October 2025 the government's 5% Deposit Scheme has been uncapped: the old income limits and the cap on places are both gone, and you skip LMI. Drag your deposit below and watch the suburbs you can actually afford light up in your city. Free, no sign up.

8Capital cities mapped
4xBuying power vs 20%
$0LMI under the scheme
Explore the map How the scheme works

Built by Anish Puri, Founder and Editor of NestPath · Updated

An Australian suburb seen from above at golden hour
Pick your city
Houses or units
Drag your deposit: $40k
On a 20% deposit$200kbuying power
On the 5% scheme$800k4 times the buying power
LMI you skip$33kno lenders mortgage insurance
Suburbs you can now reach+12out of 36 we checked
Affordable on a 20% deposit tooUnlocked by the 5% schemeStill out of reach
North Ipswich (Ipswich): $720,000 median houseBrisbane City (Brisbane City): $735,000 median houseGoodna (Ipswich): $745,000 median houseBooval (Ipswich): $746,000 median houseWoodridge (Logan): $750,000 median houseEagleby (Logan): $755,000 median houseBundamba (Ipswich): $756,000 median houseLogan Central (Logan): $763,000 median houseBeenleigh (Logan): $788,000 median houseRedbank Plains (Ipswich): $790,000 median houseRaceview (Ipswich): $791,000 median houseKingston (Logan): $793,000 median houseIpswich (Ipswich): $822,000 median houseDeception Bay (Moreton Bay): $830,000 median houseCaboolture (Moreton Bay): $845,000 median houseInala (Brisbane City): $860,000 median houseSpringfield Lakes (Ipswich): $891,000 median houseBrowns Plains (Logan): $898,000 median houseDurack (Brisbane City): $938,000 median houseRedcliffe (Moreton Bay): $962,000 median houseMargate (Moreton Bay): $995,000 median houseNorth Lakes (Moreton Bay): $1,005,000 median houseMurrumba Downs (Moreton Bay): $1,063,000 median houseVictoria Point (Redland): $1,074,000 median houseDaisy Hill (Logan): $1,079,000 median houseSpringwood (Logan): $1,080,000 median houseChermside (Brisbane City): $1,158,000 median houseCleveland (Redland): $1,260,000 median houseNundah (Brisbane City): $1,275,000 median houseWest End (Brisbane City): $1,355,000 median houseMount Gravatt East (Brisbane City): $1,400,000 median houseSunnybank (Brisbane City): $1,494,000 median houseCannon Hill (Brisbane City): $1,660,000 median houseCoorparoo (Brisbane City): $1,720,000 median houseIndooroopilly (Brisbane City): $1,779,000 median houseNew Farm (Brisbane City): $2,200,000 median house15 above cap$400k$500k$600k$700k$800k$900kyour 5% reach$1M cap

Every dot is one suburb, by its median house price. Tap one, or a suburb below, to see it.

Newly in reach with your $40k:

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Where this data comes from, and the honest fine print

A few honest notes on the data. Use the toggle to switch between houses and units. Every dot is one suburb median for the type you have selected, so it is always a like for like comparison. Units here follow the CoreLogic definition of attached dwellings, which groups apartments and townhouses together, so in outer suburbs the unit figure often reflects townhouses rather than high rise apartments. Suburbs span the greater metro of each capital, and some sit in neighbouring councils (for Brisbane that includes Ipswich and Logan, which are part of Greater Brisbane); each dot is labelled with its council or district. These are 12 month median sale prices, not a valuation of any one home, so they lag the latest month a little, and a few suburbs with very thin unit markets are shown for houses only. Main source: Your Investment Property suburb profiles built on CoreLogic 12 month medians, June 2026, cross checked against Domain, propertyvalue.com.au and REIWA. The price cap is a ceiling on what you can pay, not a test of the median, so you can still use the scheme in a pricier suburb by buying below the median. Darwin cap is 600,000 dollars now and rises to 750,000 dollars on 1 July 2026. Caps confirmed against firsthomebuyers.gov.au in June 2026. Always confirm the live cap for your exact suburb there, and remember your borrowing power still comes down to the lender income and serviceability check. All prices rounded to the nearest 1,000 dollars.

This is general information, not financial or credit advice. The suburb prices are a guide and rounded off. Confirm the live cap for your exact suburb at firsthomebuyers.gov.au, and remember your borrowing power still comes down to the lender's income and serviceability check.

Median house and unit prices across the greater metro of each capital, from CoreLogic suburb profiles cross-checked against Domain, REIWA and propertyvalue. Price caps from Housing Australia.

Why a 5% Deposit Beats a 20% Deposit by So Much

It is simple maths that almost nobody has updated in their head. Your deposit is a percentage of the price. On a 20% deposit, $40,000 only gets you to a $200,000 property, and nothing sells for that in an Australian capital. On the 5% scheme that same $40,000 is 5% of $800,000, so your buying power jumps to $800,000. The deposit didn't change. The rule did.

On top of that, the government guarantees the gap up to 15% of the value, so you skip Lenders Mortgage Insurance completely. That is usually $15,000 to $35,000 you would otherwise pay or add onto the loan. The catch: your buying power is capped at your area's price limit, and you still have to pass the lender's normal income and serviceability check.

How to Read It

Use the houses or units toggle, then read the dots. Every dot is a real suburb across the greater metro, placed by its median price for the type you picked. Green means you could afford it even on a 20% deposit. Gold is the good part: suburbs the 5% scheme just put in reach for your deposit, the ones you could not touch the old way. Grey means still beyond your deposit, or above the scheme's price cap for that city. In the pricier cities, switch to units to see the stock first home buyers actually shop in.

Want the full eligibility picture, not just price? Run the free eligibility checker (every scheme in two minutes), size your repayments with the borrowing power calculator, or read the full First Home Guarantee guide.

Want a broker who actually knows this scheme?

Not every lender is set up for the 5% scheme. We match you with a broker who actually knows it, for free. The lender pays them, not you.

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5% Deposit Scheme: Frequently Asked Questions

Do first home buyers still need a 20% deposit in 2026?

No. Since 1 October 2025 the Australian Government 5% Deposit Scheme lets eligible first home buyers buy with a 5% deposit. The government guarantees up to 15% of the property value so you avoid Lenders Mortgage Insurance, and there are no income caps and no limit on the number of places. A 5% deposit gives you roughly four times the buying power of the same money used as a 20% deposit, up to your state property price cap.

How much LMI does the 5% Deposit Scheme save you?

Because the government guarantees the gap between your 5% deposit and 20%, you pay no Lenders Mortgage Insurance. For a typical first home that is roughly $15,000 to $35,000 saved, depending on the purchase price, lender and loan size.

What are the 5% Deposit Scheme property price caps?

For the capitals (in force July 2026): Sydney $1.5M, Melbourne $950k, Brisbane $1M, Perth $850k, Adelaide $900k, Canberra $1M, Hobart $700k, Darwin $750k (up from $600k on 1 July 2026). Lower caps apply to the rest of each state. A suburb is only eligible if its purchase price is at or under the relevant cap.

Is the 5% deposit available to everyone?

You must be an Australian citizen or permanent resident, 18 or over, and buying your first home to live in. There are no income caps and no place limits since 1 October 2025, but you still need to pass the lender's normal income and serviceability assessment, and the property must be under the price cap for its area.