- A deposit below 20% could mean paying lender’s mortgage insurance (LMI) unless you’re eligible for a government scheme, a family guarantee or an LMI waiver
- Queensland transfer duty is paid on top of your deposit, although eligible first home buyers purchasing a new home could pay no duty at all
- A smaller deposit could help you buy sooner, while a larger deposit generally means a smaller loan and lower repayments.
How much deposit do you need for a Brisbane property?
You’ve finally got a savings balance that feels like progress and a saved search full of Queenslanders with wide verandahs. Then the same question pops up every time. How much is enough? The right deposit for a Brisbane property depends on more than a percentage, because transfer duty, lender’s mortgage insurance (LMI) and settlement costs could all change the figure you need in the bank. Here’s how the 5%, 10% and 20% scenarios stack up.
What does it cost to enter the Brisbane property market?
Brisbane’s median dwelling value was $1,080,142 at the end of August 2026, according to Cotality’s Home Value Index. That puts a 20% deposit on a median-priced home at around $216,028, or roughly $54,007 at 5%. Cotality puts the median house value at $1,180,552 and the median unit value at $854,721 (correct at time of writing). Values rose 10.8% over the year but slipped 2.7% over the quarter. Where you buy also changes how much deposit for a Brisbane home you’ll need, with median dwelling values of $874,451 in Ipswich Inner compared with $1,146,034 in Sherwood-Indooroopilly.
How do 5%, 10% and 20% deposits compare in Brisbane?
Your deposit shapes how much you borrow, whether LMI applies and how soon you could buy. A smaller deposit could get you into the market earlier, while a larger one generally means a smaller loan and lower repayments. The table below models an illustrative $800,000 purchase, with transfer duty estimated using Queensland’s general transfer duty rates. Eligible owner-occupiers and first home buyers could pay less duty, as outlined further down.
|
Deposit tier |
Deposit amount |
Loan amount before LMI |
LVR |
Indicative LMI |
Estimated transfer duty |
Deposit plus duty |
|---|---|---|---|---|---|---|
|
5% |
$40,000 |
$760,000 |
95% |
Generally applies |
$29,025 |
$69,025 |
|
10% |
$80,000 |
$720,000 |
90% |
Generally applies |
$29,025 |
$109,025 |
|
20% |
$160,000 |
$640,000 |
80% |
Generally not required |
$29,025 |
$189,025 |
Source: Queensland Revenue Office general transfer duty rates. Figures are illustrative only and exclude LMI, legal fees and lender costs.
What does a 5% deposit in Brisbane look like?
A 5% deposit in Brisbane on an $800,000 property is $40,000, leaving a loan of $760,000. That’s a smaller savings target, but LMI could add thousands of dollars unless you qualify for an exemption. Repayments would also be higher because you’re borrowing more.
The decision rarely comes down to the deposit alone.
“A lot of first home buyers I speak with around Logan and the Redlands are torn between buying now with 5% or saving more. It’s worth weighing the LMI cost against how much prices could move while you save,” said John Hubon of Loan Market in Cornubia.
What does a 10% deposit in Brisbane look like?
A 10% deposit in Brisbane on the same $800,000 home means saving $80,000 and borrowing $720,000. On Brisbane’s median unit value, the same 10% would be about $85,472, rising to about $118,055 on the median house. LMI would still generally apply at this level, although the premium is typically lower than at 5% because the lender is taking on less risk. This middle tier could suit buyers who want a smaller loan without waiting several years to reach 20%.
What does a 20% deposit in Brisbane look like?
A 20% deposit in Brisbane on an $800,000 property is $160,000, which reduces the loan to $640,000. LMI generally isn’t required at this level, and a smaller loan could mean noticeably lower repayments across the life of the loan. Reaching 20% can take considerably longer though, especially on Brisbane’s median unit value, where 20% would be about $170,944, or about $236,110 on the median house. Some buyers decide the wait is worth it. Others would rather be in the market sooner.
What Queensland fees should you budget for on top of your deposit?
Transfer duty is usually the largest cost after your deposit for a Brisbane property. Investors pay general rates, which is how the table above arrives at $29,025. Owner-occupiers buying an established home can generally claim the home concession, bringing duty down to $21,850.
Eligible first home buyers could pay less again. The first home concession reduces duty to nil on established homes up to $700,000, with a partial concession for homes valued between $700,000 and $800,000. The first home (new home) concession could remove duty entirely on an eligible new home with no price cap, while a separate first home vacant land concession could reduce duty to $0 on eligible vacant land.
Duty is often the cost buyers overlook. “Buyers often have their deposit sorted and then realise they could need another $20,000 or more for duty and fees. Mapping out the full figure early gives you a much clearer savings target,” said Patrick Moore of Loan Market Clayfield.
Several smaller costs sit alongside transfer duty. Fees vary between providers and lenders, so getting quotes early could help you avoid a shortfall at settlement. Allow for:
- Conveyancing or solicitor fees
- Building and pest inspections
- Strata or body corporate searches for units and townhouses
- Titles Queensland registration fees
- Lender application, valuation and settlement fees
- Independent legal advice for guarantor loans.
How can you buy in Brisbane with a smaller deposit?
Government schemes, family guarantees and LMI waivers could reduce the deposit for a Brisbane property you need to save. Some could also remove the LMI cost. Eligibility rules apply to each.
The Australian Government 5% Deposit Scheme, formerly the Home Guarantee Scheme, allows eligible first home buyers to purchase with a 5% deposit and no LMI. There are no income caps or limits on places, and the Brisbane price cap is currently $1,000,000, though it’s worth confirming the cap for your postcode. Eligible single parents could buy with as little as 2%. Queensland’s first home owner grant of $30,000 could also help eligible buyers of new homes valued at less than $750,000.
A family guarantee lets a parent or close relative use equity in their own property as extra security, which could allow you to borrow more than 80% without paying LMI. The guarantor takes on genuine risk, so independent legal advice is generally recommended. Some lenders also offer LMI waivers for eligible professionals such as doctors, lawyers and accountants, although criteria vary widely between lenders.
You can use Loan Market’s borrowing power calculator to estimate how much you may be able to borrow based on your current financial position. This can help you see how your deposit and potential borrowing power compare with Brisbane property prices before speaking with a broker
Ready to talk through your Brisbane property plans?
Knowing how much deposit you need is only part of planning a Brisbane property purchase. Transfer duty, other upfront costs and eligibility for government support could all affect the amount you need to save. Comparing 5%, 10% and 20% deposit scenarios early could help you set a realistic savings target.
Working out how much deposit for a Brisbane home you need depends on your individual situation, borrowing power and property goals. A Loan Market broker can walk you through potential deposit pathways, check your eligibility for government support and help you find a loan that fits your plans. To discuss your options, contact a Loan Market broker today.
Frequently asked questions
Can I buy a home in Brisbane with a 5% deposit?
It could be possible to buy with a 5% deposit in Brisbane, subject to lender eligibility. Eligible first home buyers could use the Australian Government 5% Deposit Scheme to avoid LMI on properties up to $1,000,000. Other buyers could still borrow up to 95% with some lenders, although LMI would generally apply.
How much is transfer duty in Queensland on a first home?
It depends on whether the home is new or established. Eligible first home buyers purchasing a new home or vacant land could pay no transfer duty, with no cap on the price. On established homes, the first home concession reduces duty to nil up to $700,000 and phases out completely for homes valued at $800,000 or more.
Does LMI get added to my home loan balance?
Many lenders allow LMI to be added to the loan amount rather than paid upfront, subject to lender policy. This reduces the cash you need at settlement, but you’ll pay interest on the LMI over the life of the loan. Adding it could also push your loan-to-value ratio higher, which may affect your eligibility with some lenders.
How much deposit for a Brisbane home do I need to avoid LMI?
A 20% deposit in Brisbane is generally needed to avoid LMI. On Brisbane’s median dwelling value of $1,080,142, that’s around $216,028. Eligible buyers could avoid LMI with a smaller deposit through the 5% Deposit Scheme, a family guarantee or a professional LMI waiver.
Do investors pay more transfer duty in Queensland?
Investors can’t claim the home concession, so duty is calculated at general rates. On an $800,000 property, that works out to $29,025, compared with $21,850 for an owner-occupier. Additional foreign acquirer duty of 8% can also apply to a foreign person’s interest in residential land.
