The Australian Government 5% Deposit Scheme makes home ownership more achievable by helping you buy sooner with a smaller deposit, with a Government guarantee.
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 your Participating Lender) must not exceed the Price 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 Price Cap too.
Check 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.
Property Price Caps are the same for first home buyers and single parents.
| Location | Property Price Cap effective 1 October 2025 |
| NSW - capital city and regional centre* | $1,500,000 |
| NSW - other | $800,000 |
| VIC - capital city and regional centre* | $950,000 |
| VIC - other | $650,000 |
| QLD - capital city and regional centre* | $1,000,000 |
| QLD - other | $700,000 |
| WA - capital city | $850,000 |
| WA - other | $600,000 |
| SA - capital city | $900,000 |
| SA - other | $500,000 |
| TAS - capital city | $700,000 |
| TAS - other | $550,000 |
| ACT | $1,000,000 |
| NT | $600,000 |
| Jervis Bay Territory and Norfolk Island | $550,000 |
| Christmas Island and Cocos (Keeling) Islands | $400,000 |
* 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.
The Australian Government 5% Deposit Scheme helps you buy your first home with a minimum 5% deposit, with a Government guarantee. No income caps, no waitlists and no Lenders Mortgage Insurance (LMI) means you have lower upfront costs and could own your first home years faster.
You can find more information about the Scheme and borrower eligibility criteria on the new government website.
Discover how the Scheme could help you own your first home sooner:
To access the Scheme, you need to meet borrower eligibility criteria including:
Applying on your own or jointly with a partner, friend, or family member (maximum of 2 applicants for joint applications).
The Australian Government 5% Deposit Scheme helps you into your new family home if you have a minimum 2% deposit, with a Government guarantee. No income caps, no waitlists and no LMI helps get you into your own home sooner.
You can find more information about the Scheme eligibility criteria on the new government website.
Discover how the Scheme could help you own your first home sooner:
Purchase a property up to the property Price Caps set by the Scheme for your location.
To access the Scheme, you need to meet eligibility criteria including:
You can find more information about the Australian Government 5% Deposit Scheme on the new Government website below.
* Refer to The Mac Fees Charges and Transaction Limit brochure for more information
