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.
Both the purchase price and the home’s value (as assessed by our Lenders) 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.
Check the Postcode Search Tool to find the price cap for your desired location. It’s only a guide – confirm with your Lender for any home you’re considering buying.
Property price caps are the same for first home buyers and single parents.
For regional centres in NSW (for example Newcastle and Lake Macquarie) the price cap is $1.5million and for other areas (for example Maitland) the cap is $800,000.