Enter your income, deposit, and state to estimate a purchase price range, then explore Australian suburbs where median property prices fall within that range. Results may also show which federal or state schemes could apply, helping you understand the areas and property types that may be within reach based on your financial inputs.

What does this tool actually show me?

You enter your estimated borrowing power and choose a government scheme, and the tool converts those inputs into a maximum purchase price. It then overlays that price against median suburb figures from around Australia so you can see which areas may be within reach. Results are estimates based on the figures you enter - they do not account for your full financial situation, and a lender will make the final call on how much you can borrow.

How is the maximum purchase price calculated?

The calculation depends on the scheme you choose. With no scheme, a 20% deposit is assumed, so your borrowing power represents 80% of the purchase price. With the 5% Deposit Scheme, your borrowing covers 95% of the price. Under Help to Buy, the government contributes equity (30% for existing homes, 40% for new builds) and you need only a 2% deposit, which is why the same borrowing power stretches to a higher price. State-based price caps can also limit the result when you filter by a specific state and region.

What is the 5% Deposit Scheme and does it cost more in the long run?

The First Home Guarantee (5% Deposit Scheme) lets eligible first home buyers purchase with as little as a 5% deposit and waive lenders mortgage insurance (LMI), which can otherwise add thousands to your loan. Single parents and legal guardians may be eligible for a 2% deposit pathway under the same scheme. Because you borrow more (95% of the purchase price rather than 80%), your loan is larger, so repayments would generally be higher than if you had saved a full 20% deposit - a trade-off worth modelling with a mortgage calculator before committing.

What is Help to Buy and what are the income limits?

Help to Buy is a federal shared-equity scheme where the government co-owns a share of your property - 30% for an existing home or 40% for a new build - in exchange for requiring only a 2% deposit from you. Because the government holds equity, your loan is much smaller than it would otherwise be, which is how the same borrowing power can reach a significantly higher purchase price. Income limits apply - currently under $100,000 for a single buyer or under $160,000 for couples, depending on your circumstances - and the relevant authority (Housing Australia) makes the final eligibility determination. Caps on the purchase price also apply by state and whether you are in a capital city or regional area.

Why does switching between Metro and Rest of State change my maximum price?

Government schemes set different price caps for capital cities and regional areas. For example, the First Home Guarantee currently caps purchases at $1,500,000 in NSW metro areas but $800,000 in the rest of NSW - a big difference for the same borrowing power. The tool applies the correct cap for whichever region tier you select so the maximum price shown stays within what the scheme actually allows in that location.

Can I use the 5% Deposit Scheme and Help to Buy at the same time?

No - federal first-home schemes cannot be combined on the same purchase. You can use one or the other, but not both. State-based grants (like the First Home Owner Grant) and stamp duty concessions can often stack on top of a single federal scheme, so a federal scheme does not necessarily rule out state assistance. The Grant Stacker section of this tool shows what state grants may be available alongside your chosen scheme.

What should I do after using this tool?

This tool gives you a rough sense of your price range and which suburbs could be within reach - it is a starting point, not a final answer. Your actual borrowing power depends on your full income picture, existing debts, credit history, and which lender you approach, so getting a pre-approval from a lender or speaking with a mortgage broker is the natural next step. A conveyancer or solicitor can explain what the contract and settlement process looks like once you have a shortlist of areas in mind.