Most Brisbane buyers are saving towards the wrong number. Here's what you actually need before you can move.
How much do you actually need to save for a house deposit in Brisbane? If your answer is "20 percent of the purchase price," it's worth pausing. Depending on your situation, that target could be exactly right, or it could be years longer than necessary.
Brisbane's median house value hit $1.2 million in April 2026, up 19 percent over the year. The generic advice most buyers find online was written for a different market. This is what the number actually looks like right now.
Brisbane prices, since you asked
The median sits at roughly $1.2 million as of mid-2026. Half of all houses sold for more than that.
If that's not your budget, you're not alone. Detached houses in outer suburbs like Ipswich, Logan, and Moreton Bay are still available in the $600,000 to $800,000 range. Townhouses and apartments closer to the city start from around $500,000 to $700,000.
The point is this: pick a realistic target purchase price before you calculate a deposit. Everything else flows from that number.
The 20 percent rule is real. It's also not the only way in.
Twenty percent is the standard threshold. Borrow more than 80 percent of a property's value and most lenders will charge you Lenders Mortgage Insurance. LMI is insurance the lender takes out for their own protection. The premium comes out of your pocket.
On a $750,000 Brisbane home with a 10 percent deposit, LMI adds $13,000 to $19,000 to your upfront bill. On a $1 million home, it goes higher.
But you're not stuck with two options.
The federal government's First Home Guarantee lets eligible buyers purchase with a 5 percent deposit and pay zero LMI. The government guarantees the remaining 15 percent, so the lender treats the loan as if it's at 80 percent LVR. As of October 2025, income caps are gone and the scheme is uncapped on places. The property price cap in Brisbane, the Gold Coast, and the Sunshine Coast is $1 million.
If you qualify, your savings target changes significantly.
So what does the number actually look like?
Using a $750,000 Brisbane property as a realistic entry-level benchmark:
5% deposit (First Home Guarantee): $37,500
10% deposit (standard, LMI applies): $75,000, plus LMI of approximately $13,000 to $19,000
20% deposit (no LMI): $150,000
Those are deposit figures only. What you need in your account on settlement day is higher.
The costs everyone forgets until it's too late
The deposit gets all the attention. It's not the full story.
Stamp duty. In Queensland it's called transfer duty, and for first home buyers it's often zero. Established homes under $700,000 are fully exempt. Between $700,000 and $800,000, a sliding concession applies. Above $800,000, full rates apply. On a $900,000 purchase, that's around $22,000.
One useful detail: from May 2025, eligible first home buyers purchasing a new home or vacant land to build pay zero transfer duty with no price cap. Worth knowing if you're considering a new build.
Conveyancing. You need a solicitor or conveyancer. Budget $1,500 to $2,500.
Building and pest inspection. For any established home, this is not optional. Expect $500 to $800.
Loan application fees. Some lenders charge $300 to $600 to set up the loan. Many waive it. Worth asking upfront.
Moving costs. Consistently the last thing people think about. Budget $800 to $2,500 depending on distance and how much stuff you own.
Here's how the full picture adds up:
$750,000 purchase, First Home Guarantee, stamp duty exempt:
Deposit: $37,500
Conveyancing: $2,000
Building and pest: $650
Loan fees: $400
Moving: $1,500
Total: approximately $42,000
$900,000 established home, 20 percent deposit, no stamp duty concession:
Deposit: $180,000
Stamp duty: ~$22,000
Conveyancing: $2,000
Building and pest: $650
Loan fees: $400
Moving: $1,500
Total: approximately $206,550
Wide range. The right number is yours specifically, not anyone else's.
What's actually available to help you get there faster
Queensland and the federal government between them offer three things worth knowing:
The Queensland First Home Owner Grant is $30,000 for eligible buyers purchasing or building a new home. Check current eligibility and dates at the Queensland Revenue Office before banking on it, as scheme terms can change.
The First Home Guarantee is the federal 5 percent deposit, no LMI scheme mentioned above. Uncapped places, $1 million price cap in Brisbane, eligibility at housing.gov.au.
Stamp duty concessions mean zero transfer duty on established homes under $700,000, and zero on all new builds regardless of price (from May 2025).
Stack all three on an eligible new build and a Brisbane first home buyer could be looking at total upfront costs of $10,000 to $15,000 in the right scenario. That's not typical, but it's possible. Your mortgage broker can tell you quickly whether you're in that bracket.
How long does saving actually take?
At Australia's average household savings rate, hitting a 20 percent deposit on Brisbane's median takes well over a decade. That's why most first home buyers here are targeting smaller deposits, government schemes, or both. The entry point matters more than the percentage.
There's no single answer. What there is: a specific number that applies to your situation, your price range, and your eligibility. That's what to work out first.
Frequently asked questions
How much deposit do I need to buy a house in Brisbane? It depends on the purchase price and which schemes you qualify for. On a $750,000 property, a 20 percent deposit is $150,000. With the federal First Home Guarantee, you can purchase with 5 percent — $37,500 on the same property — and pay zero LMI. Total upfront costs including stamp duty, conveyancing, and inspections range from roughly $42,000 on the low end to well over $200,000 at the top.
Can I buy in Brisbane with a 5 percent deposit? Yes, if you're eligible for the First Home Guarantee. The federal scheme lets eligible first home buyers purchase with a 5 percent deposit with no LMI payable. As of October 2025, the scheme is uncapped on places, income caps have been removed, and the property price cap in Brisbane is $1 million. Check current eligibility at housing.gov.au.
Do first home buyers pay stamp duty in Queensland? Often no. First home buyers purchasing an established home under $700,000 pay zero transfer duty in Queensland. A sliding concession applies between $700,000 and $800,000. From May 2025, eligible first home buyers purchasing a new home or vacant land to build pay zero transfer duty with no price cap.
How long does it take to save a house deposit in Brisbane? At average savings rates, saving a full 20 percent deposit on Brisbane's median house price takes well over a decade for most buyers. That's why most first home buyers here combine a smaller deposit with government schemes rather than waiting to hit 20 percent. Knowing your actual target — based on your price point and eligibility — is the most useful place to start.
Once you know your number, make your search count
Knowing what you need to save is step one. Step two is making sure you're actually seeing everything available in Brisbane when you're ready to buy.
One in five properties sell before they're ever publicly listed. In Brisbane, where competition has sharpened alongside rising prices, off-market properties are matched and settled before most buyers even know they were available. If you're only watching the portals, you're only seeing part of the market.
Sold OffMarket connects buyers with listing agents holding off-market Brisbane properties. You register your search criteria once. When an agent lists something that fits, you hear about it before it goes anywhere else. No networking required. No waiting for a listing that may never appear.
Your next match is waiting.
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