Queensland first timers will be pleased to know it’s cheaper to do it here than any other mainland state in Australia. (Yes, Tassie is cheapest but are you sure you want to move there?).
Based on statewide median house prices, the number crunchers at the Australian Bureau of Statistics and CoreLogic RP Data have calculated the cost of your deposit plus stamp duty to see how the states rate. The results are below.
Upfront cost of a house deposit plus stamp duty:
- Tasmania, $69,743
- Queensland, $93,000
- South Australia, $93,830
- Western Australia, $109,514
- Victoria, $109,835
- New South Wales, $118,948
- ACT, $140,960
Want to pay less? Consider a unit. You can expect to pay around $75,000 in upfront costs based on Queensland’s median unit price of $375,000 plus stamp duty.
First timers might also be eligible for a government grant. In Queensland you can get $15,000 or $20,000 towards buying or building a new home, depending on the date of your contract.
Check here for information on other states and territories.