Is it cheaper to build or buy?

Whether it's cheaper to build or buy depends on so many factors, from stamp duty to land size, build quality and location. Here's what the data says.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Is it cheaper to buy or build? Let’s look at the cost of building a house, taking into account the median price you’ll pay for a vacant block of land across some of Australia’s capitals. The estimated construction costs are for a three-bedroom brick veneer home on a level block of land with a medium finish quality.

Median lot priceMaximum estimated construction costsTotal
Sydney$450,000$180,810$630,810
Melbourne$330,000$195,275$525,275
Brisbane$232,500$207,932$440,432
Adelaide$220,000$198,891$418,891
Perth $269,000$216,972$485,972
Hobart$165,000$175,386$340,386

Source: CoreLogic, BMT Quantity Surveyors

This doesn’t take into account finishing costs, which could add an additional 15-25% to the total cost. It also doesn’t take into account stamp duty. If you’re a first home buyer, you could be eligible for a concession on your stamp duty depending on the state or territory you live in. The table below shows the stamp duty payable on a median priced block of land in each capital city.

Stamp duty on vacant land (assuming median price)Concession for first home buyers?
Sydney$15,740Yes, for land valued between $350,000 and $450,000.
Melbourne$14,870Yes, duty is only paid on the improved value of the land, the non-deductible costs and the completed construction or refurbishment including GST as at the contract date.
Brisbane$7,084.80Yes, for vacant land under $400,000.
Adelaide$7,680Only for those buying a new apartment within certain locations in the City of Adelaide.
Perth$7,657Yes, for land worth between $300,001 and $400,000.
Hobart$4,710No

Read our stamp duty guide

So even after factoring in construction and the price of a vacant lot, you could still be on the hook for stamp duty and finishing costs. It’s also important to keep in mind, however, that this could be offset by First Home Owner Grants (FHOGs) available for the construction of new homes. The table below gives a rundown of the grants you could be eligible for depending on your state or territory.

CityFirst Home Buyer Grant for building?
SydneyYes, the $10,000 First Home Owner Grant is available for construction of new homes valued up to $750,000.
MelbourneYes, the $10,000 First Home Owner Grant is available for building a new home valued at up to $750,000.
BrisbaneYes, borrowers building a home valued at up to $750,000 are eligible for the $15,000 Great Start Grant.
AdelaideYes, a First Home Owner Grant of up to $15,000 is available for the construction of new homes valued up to $575,000.
PerthYes, the $10,000 First Home Owner Grant is available for the construction of new homes.
HobartYes, new home construction is eligible for the $10,000 First Home Owner Grant.

Read our FHOG guide

So let’s assume you decide to build your three-bedroom brick veneer house. In our worst-case scenario, you pay an additional 25% for finishing costs. If you're a first home buyer purchasing a median priced block of land, we'll also take stamp duty concessions and the first home buyer grant into account. Here’s the total cost you’d be looking at.

CityTotal cost
Sydney$794,252.50
Melbourne$661,463.75
Brisbane$542,624.80
Adelaide$516,293.75
Perth$597,465
Hobart$420,192.50

Now let’s contrast this with the cost of buying an established house in each capital city. According to the latest median house price report from Domain, this is the price you’d be looking at to buy an established house:

CityMedian house price
Sydney$1,150,357
Melbourne$914,518
Brisbane$557,214
Adelaide$533,525
Perth$553,486
Hobart$450,349

Source: Domain Group

Now let’s factor in stamp duty.

CityMedian house price + stamp duty
Sydney$1,199,119
Melbourne$964,464
Brisbane$564,389
Adelaide$556,703
Perth$553,486
Hobart$466,488.50

It’s important to note that in many states the First Home Owner Grant does not apply for the purchase of an established home.

Now that we’ve crunched the numbers, let’s have a look at how the median costs of building stack up to the median costs of buying.

CityBuildingBuyingDifference
Sydney$794,252.50$1,199,119
  • Building is $404,866.50 cheaper
Melbourne$661,463.75$964,464
  • Building is $303,000.25 cheaper
Brisbane$542,624.80$564,389
  • Building is $21,764.20 cheaper
Adelaide$516,293.75$556,703
  • Building is $40,409.25 cheaper
Perth$597,465$553,486
  • Building is $43,979 more expensive
Hobart$420,192.50$466,488.50
  • Building is $46,296 cheaper

Obviously this is a general estimate. Your finishing costs may be less expensive, you might be eligible for stamp duty discounts and there are a number of ways you can save on the cost of construction, particularly if you manage the building process yourself. Moreover, the price of established homes can vary significantly based on the suburb in which you choose to buy, so a capital city’s median price may not be indicative of the kind of home you’d be looking for. But as a general guide, the table above shows that building and buying stack up very differently in different capital cities.

But the building versus buying conundrum comes down to much more than cost. Ultimately, the decision has more to do with the kind of home and home buying experience you’re looking for. An established home can have the benefit of being situated closer to transport and amenities. It can have the character and charm that come with a long history. A newly-built home can allow you to suit the layout and design to your own needs and tastes. While the cost of building versus buying is easily quantifiable, the true value of the two choices comes down to you.

Deciding whether to build or buy?

Cost is one thing, but there are more issues to consider when deciding between building or buying a home. We've broken them down for you.

Building a home

  • Benefits. When you build a home you get the ability to customise it according to your preferences, and you can choose materials and fixtures to suit your requirements. Some lenders offer home construction loans which enable you to get funds in stages, as opposed to a lump sum amount. In addition, you do not have to worry about old plumbing, wiring and appliances breaking down for a while.
  • Downsides. Building a home can take considerably longer than moving into an already-constructed home. While a number of builders offer fixed price contracts with build-time guarantees, take into account that certain council approvals can take time depending on what you have in mind. It also pays to factor in unexpected delays thanks to inclement weather. Choosing a good contractor requires you to do some research, because a faulty or incorrectly built section can take more time and money to repair. If you plan to have a garden, it can take years before the trees mature completely.

Buying a home

  • Benefits. Buying a home is convenient, compared to building. All you need is loan pre-approval and look for homes that fit your budget. Once you sign on the dotted line, you can start preparing to move. Depending on where you buy, buying a home can often be cheaper than building one. Buying a home can also offer you more options in terms of locations, given that empty lots are not particularly easy to come by in neighbourhoods that have been around for a while. Many homes also come with landscaping.
  • Downsides. One of the biggest downsides to buying an established home is that you may not be able to renovate or modify it in the way you desire, and it's often not easy to find a home that matches your specifications down to the last detail. Buying a home can also require you to spend money for repairs or to fix it up. You might not account for all these expenses when taking out a home loan, resulting in an added financial burden down the line. Old homes require a thorough inspection of plumbing, wiring and fixtures before you decide to purchase them.

Building or buying? Compare your home loan options

$
years
Name Product Interest Rate (p.a.) Comp. Rate (p.a.) Fees Monthly Payment
St.George Fixed Rate Advantage Package P&IHome 2Y Fixed≥ 20% Deposit
St.George Fixed Rate Advantage Package
1.94%
3.40%
  • App: $0
  • Ongoing: $395 p.a.
$551.07
$3,000 refinance cashback
Borrowers with 20% deposits or equity can get this competitive fixed rate loan. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.
UBank UHomeLoan Fixed P&IHome 3Y Fixed≥ 20% Deposit
UBank UHomeLoan Fixed
1.85%
2.24%
  • App: $0
  • Ongoing: $0 p.a.
$544.38
A competitive fixed rate loan with no ongoing fees. Requires a 20% deposit.
Westpac Fixed Option Home Loan Premier Advantage Package P&IHome 2Y Fixed≥ 5% Deposit
Westpac Fixed Option Home Loan Premier Advantage Package
1.99%
3.48%
  • App: $0
  • Ongoing: $395 p.a.
$554.81
$3,000 refinance cashback
Lock in a low fixed rate for 2 years that allows you to make up to $30,000 in extra repayments and buy your home with a 5% deposit. $3,000 cashback for eligible refinancers. Apply by 31 August 2021. Terms and conditions apply.
Athena Variable Home Loan P&IHome≥ 40% Deposit
Athena Variable Home  Loan
1.99%
1.99%
  • App: $0
  • Ongoing: $0 p.a.
$554.81
Owner occupiers with 40% deposits or equity can get this competitive variable rate loan. No upfront or ongoing fees.
HSBC Fixed Rate Home Loan Package P&IHome 2Y Fixed≥ 20% Deposit
HSBC Fixed Rate Home Loan Package
1.88%
2.86%
  • App: $0
  • Ongoing: $390 p.a.
$546.6
$3,288 refinance cashback offer
Lock in a low fixed rate for 2 years and buy your home with a 20% deposit. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.
loans.com.au Smart Booster Discount Variable Home Loan P&IHome≥ 30% Deposit
loans.com.au Smart Booster Discount Variable Home Loan
1.85%
2.21%
  • App: $0
  • Ongoing: $0 p.a.
$544.38
Get a low discounted variable rate loan. Requires a 30% deposit. Get your loan processed fast and settle within 30 days.
Suncorp Home Package Plus Fixed P&IHome 2Y Fixed≥ 20% Deposit
Suncorp Home Package Plus Fixed
1.89%
2.85%
  • App: $0
  • Ongoing: $0 p.a.
$547.35
Lock in a low fixed rate for 2 years. Available with a 20% deposit. Eligible new borrowers can get the annual package fee reimbursed for the life of the loan.
HSBC Home Value Loan P&IHome≥ 30% Deposit
HSBC Home Value Loan
2.19%
2.20%
  • App: $0
  • Ongoing: $0 p.a.
$569.91
$3,288 refinance cashback offer
This competitive variable rate loan is available for borrowers with 30% deposits. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.
Homestar Star Gold P&IHome≥ 40% Deposit
Homestar Star Gold
1.79%
1.84%
  • App: $395
  • Ongoing: $0 p.a.
$539.94
Refinancers and buyers with 40% deposits can get this very competitive variable rate. It even comes with a 100% offset account.
Great Southern Bank Fixed Rate Home Loan P&IHome 3Y Fixed≥ 5% Deposit
Great Southern Bank Fixed Rate Home Loan
1.97%
3.86%
  • App: $600
  • Ongoing: $0 p.a.
$553.31
Pay no ongoing fees and lock in your rate for 3 years to organise your budget.
86 400 Own Home Loan Fixed P&IHome 1Y Fixed≥ 20% Deposit
86 400 Own Home Loan Fixed
1.84%
2.63%
  • App: $250
  • Ongoing: $250 p.a.
$543.64
Fix to this very competitive rate for one year. This loan requires a 20% deposit.
Westpac Flexi First Option Home Loan P&IHome≥ 5% Deposit
Westpac Flexi First Option Home Loan
2.29%
2.72%
  • App: $0
  • Ongoing: $8 p.a.
$577.55
$3,000 refinance cashback
A flexible and competitive variable rate loan. Available to owner occupiers on principal and interest loans. $3,000 cashback for eligible refinancers. Apply by 31 August 2021. Terms and conditions apply.
UBank UHomeLoan Fixed P&IHome 1Y Fixed≥ 20% Deposit
UBank UHomeLoan Fixed
1.99%
2.33%
  • App: $0
  • Ongoing: $0 p.a.
$554.81
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.
Well Home Loans Balanced Fixed Home Loan P&IHome 1Y Fixed≥ 10% Deposit
Well Home Loans Balanced Fixed Home Loan
1.89%
2.18%
  • App: $250
  • Ongoing: $0 p.a.
$547.35
Owner occupiers can get a sharp fixed rate for the first year, plus an offset account. Available with a 10% deposit.
St.George Basic Home Loan P&IHome≥ 20% Deposit
St.George Basic Home Loan
2.49%
2.51%
  • App: $0
  • Ongoing: $0 p.a.
$593.01
$3,000 refinance cashback
Get this low-rate variable loan with a 20% deposit and pay $0 application fee. Borrow from $150k (or $250k to be eligible for the cashback offer). Terms, conditions & exclusions apply. Refinancers Only.
Virgin Money Reward Me Fixed Rate Home Loan P&IHome 2Y Fixed≥ 20% Deposit
Virgin Money Reward Me Fixed Rate Home Loan
1.98%
2.66%
  • App: $300
  • Ongoing: $10 p.a.
$554.06
$3,000 refinance cashback.
Buy your home and lock in a low rate for the first two years. Get a $3,000 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 29 August 2021 and settle by 26 November 2021.
Macquarie Bank Basic Home Loan P&IHome≥ 40% Deposit
Macquarie Bank Basic Home Loan
2.34%
2.34%
  • App: $0
  • Ongoing: $0 p.a.
$581.39
Apply for the Macquarie Bank Basic Home Loan - LVR ≤ 60% (Owner Occupier, P&I) and get a low variable interest rate, plus no application and ongoing fees. Requires a 40% deposit.
Well Home Loans Balanced Fixed Home Loan P&IHome 2Y Fixed≥ 10% Deposit
Well Home Loans Balanced Fixed Home Loan
1.95%
2.17%
  • App: $250
  • Ongoing: $0 p.a.
$551.82
A low fixed mortgage with an optional 100% offset account. Not available for construction purposes.
loans.com.au Smart Booster Discount Variable Home Loan P&IHome≥ 20% Deposit
loans.com.au Smart Booster Discount Variable Home Loan
1.99%
2.47%
  • App: $0
  • Ongoing: $0 p.a.
$554.81
Home buyers can get a very low discounted variable rate for the first year. This loan has a revert rate of 2.48%. Requires a 20% deposit. Add an offset account for an additional 0.10% on your interest rate. Get your loan processed fast and settle within 30 days.
Macquarie Bank Basic Fixed Home Loan P&IHome 3Y Fixed≥ 30% Deposit
Macquarie Bank Basic Fixed Home Loan
2.09%
2.32%
  • App: $0
  • Ongoing: $0 p.a.
$562.33
Get a low interest rate and a mortgage with flexible, basic features. No application or ongoing fees. Requires a 30% deposit. Refinancers can switch with a convenient digital application.
St.George Fixed Rate Advantage Package P&IInvestment 2Y Fixed≥ 20% Deposit
St.George Fixed Rate Advantage Package
2.24%
3.89%
  • App: $0
  • Ongoing: $395 p.a.
$573.72
$3,000 refinance cashback.
Investors can lock in a competitive rate for two years with this package loan. You will need at least a 20% deposit. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.
IMB Fixed Rate Home Loan P&IHome 3Y Fixed≥ 5% Deposit
IMB Fixed Rate Home Loan
1.97%
2.81%
  • App: $449
  • Ongoing: $6 p.a.
$553.31
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online. Available with a 10% deposit.
Well Home Loans Balanced Variable P&IHome≥ 20% Deposit
Well Home Loans Balanced Variable
2.17%
2.20%
  • App: $250
  • Ongoing: $0 p.a.
$568.39
A very low interest rate for home buyers with 20% deposits saved. Add an offset account for a small fee.
Athena Variable Home Loan P&IHome≥ 30% Deposit
Athena Variable Home  Loan
2.09%
2.02%
  • App: $0
  • Ongoing: $0 p.a.
$562.33
A low variable rate for owner occupiers with 30% deposits. No upfront or ongoing fees.
Bank of Melbourne Advantage Package Fixed Home Loan P&IHome 2Y Fixed≥ 20% Deposit
Bank of Melbourne Advantage Package Fixed Home Loan
1.94%
3.40%
  • App: $0
  • Ongoing: $395 p.a.
$551.07
$3,000 refinance cashback
Get a competitive home loan rate for two years. Requires at least a 20% deposit. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.
Bank of Melbourne Advantage Package Fixed Home Loan P&IInvestment 2Y Fixed≥ 20% Deposit
Bank of Melbourne Advantage Package Fixed Home Loan
2.24%
3.91%
  • App: $0
  • Ongoing: $395 p.a.
$573.72
$3,000 refinance cashback.
Lock in a low rate for two years with this competitive investment package loan. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.
UBank UHomeLoan Variable Rate P&IHome≥ 20% Deposit
UBank UHomeLoan Variable Rate
2.34%
2.34%
  • App: $0
  • Ongoing: $0 p.a.
$581.39
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
Athena Variable Home Loan IOHome≥ 30% Deposit
Athena Variable Home  Loan
2.84%
2.32%
  • App: $0
  • Ongoing: $0 p.a.
$620.63
Newcastle Permanent Building Society Premium Plus Package Fixed Rate P&IHome 3Y Fixed≥ 20% Deposit
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
2.09%
3.58%
  • App: $0
  • Ongoing: $395 p.a.
$562.33
$2,000 cashback for eligible refinancers borrowing $250,000 or more.
Suncorp Home Package Plus Fixed P&IInvestment 3Y Fixed≥ 20% Deposit
Suncorp Home Package Plus Fixed
2.28%
3.15%
  • App: $0
  • Ongoing: $0 p.a.
$576.78
Borrowers with 20% deposits can lock in a low fixed rate loan for three years. Eligible new borrowers can get the annual package fee reimbursed for the life of the loan.
homeloans.com.au Low Rate Home Loan with Offset P&IHome≥ 40% Deposit
homeloans.com.au Low Rate Home Loan with Offset
2.14%
2.16%
  • App: $0
  • Ongoing: $0 p.a.
$566.11
A competitive rate with no application or ongoing fees. This loan is not available for construction.
IMB Fixed Rate Home Loan P&IHome 1Y Fixed≥ 5% Deposit
IMB Fixed Rate Home Loan
2.19%
2.98%
  • App: $449
  • Ongoing: $6 p.a.
$569.91
Lock in a rate for one year and get the ability to make additional repayments for 12 months without penalty. Face-to-face consultations available for NSW and ACT customers. Available with a 5% deposit.
homeloans.com.au Low Rate Home Loan with Offset IOInvestment≥ 20% Deposit
homeloans.com.au Low Rate Home Loan with Offset
2.69%
2.52%
  • App: $0
  • Ongoing: $0 p.a.
$608.71
A competitive rate with no application or ongoing fee. This loan is not available for construction.
Great Southern Bank Basic Variable P&IHome≥ 20% Deposit
Great Southern Bank Basic Variable
2.49%
2.54%
  • App: $600
  • Ongoing: $0 p.a.
$593.01
A basic variable rate loan with minimal fees and a redraw facility.
Suncorp Back to Basics Home Loan P&IHome≥ 20% Deposit
Suncorp Back to Basics Home Loan
2.44%
2.45%
  • App: $0
  • Ongoing: $0 p.a.
$589.12
A competitive variable interest rate loan with low fees. The establishment fee is waived if you borrow $150,000 or more.
ME Flexible Home Loan Fixed with Members Package P&IHome 2Y Fixed≥ 20% Deposit
ME Flexible Home Loan Fixed with Members Package
2.09%
3.20%
  • App: $0
  • Ongoing: $395 p.a.
$562.33
Lock in a competitive rate for owner occupiers for two years. Comes with a 100% offset account.
86 400 Neat Variable Home Loan P&IHome≥ 40% Deposit
86 400 Neat Variable Home Loan
2.19%
2.20%
  • App: $0
  • Ongoing: $0 p.a.
$569.91
Get flexibility and the option to make unlimited extra repayments with this variable rate loan.
Bank of Melbourne Basic Home Loan P&IHome≥ 20% Deposit
Bank of Melbourne Basic Home Loan
2.49%
2.51%
  • App: $0
  • Ongoing: $0 p.a.
$593.01
$3,000 refinance cashback
A competitive variable rate loan. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.
homeloans.com.au Low Rate Home Loan with Offset P&IHome≥ 10% Deposit
homeloans.com.au Low Rate Home Loan with Offset
2.24%
2.26%
  • App: $0
  • Ongoing: $0 p.a.
$573.72
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments. This loan is not available for construction.
Newcastle Permanent Building Society Premium Plus Package Fixed Rate P&IHome 1Y Fixed≥ 5% Deposit
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
2.19%
3.83%
  • App: $0
  • Ongoing: $395 p.a.
$569.91
$2,000 refinance cashback
Enjoy a competitive rate with no application fee for this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
Athena Variable Home Loan IOInvestment≥ 30% Deposit
Athena Variable Home  Loan
2.69%
2.52%
  • App: $0
  • Ongoing: $0 p.a.
$608.71
Investors with 30% deposits can get this fee-free variable rate loan. This loan has interest-only repayments.
homeloans.com.au Low Rate Home Loan with Offset IOHome≥ 20% Deposit
homeloans.com.au Low Rate Home Loan with Offset
2.54%
2.37%
  • App: $0
  • Ongoing: $0 p.a.
$596.91
ME Flexible Home Loan Fixed with Members Package P&IHome 3Y Fixed≥ 20% Deposit
ME Flexible Home Loan Fixed with Members Package
2.24%
3.18%
  • App: $0
  • Ongoing: $395 p.a.
$573.72
Get a low 3 year fixed rate with a 100% offset account and package discounts.
IMB Budget Home Loan P&IHome≥ 20% Deposit
IMB Budget Home Loan
2.48%
2.54%
  • App: $449
  • Ongoing: $0 p.a.
$592.23
A competitive variable rate for borrowers with 20% deposits saved. Available for NSW and ACT borrowers only.
Well Home Loans Balanced Fixed Home Loan P&IInvestment 3Y Fixed≥ 10% Deposit
Well Home Loans Balanced Fixed Home Loan
2.29%
2.29%
  • App: $250
  • Ongoing: $0 p.a.
$577.55
A competitive 3 year investor rate with principal and interest repayments. Optional offset account with a $10 monthly fee. Not available for construction purposes.
ME Basic Home Loan P&IHome≥ 20% Deposit
ME Basic Home Loan
2.58%
2.60%
  • App: $0
  • Ongoing: $0 p.a.
$600.05
This variable rate loan keeps the features simple and fees low. This loan is offered by a 100% online lender.
homeloans.com.au Low Rate Home Loan with Offset IOHome≥ 40% Deposit
homeloans.com.au Low Rate Home Loan with Offset
2.44%
2.27%
  • App: $0
  • Ongoing: $0 p.a.
$589.12
A competitive rate with no application or ongoing fee. This loan is not available for construction.
UBank UHomeLoan Fixed IOHome 1Y Fixed≥ 20% Deposit
UBank UHomeLoan Fixed
2.14%
2.35%
  • App: $0
  • Ongoing: $0 p.a.
$566.11
A one year fixed rate offer with no ongoing bank fees.
ME Flexible Home Loan Fixed P&IInvestment 2Y Fixed≥ 20% Deposit
ME Flexible Home Loan Fixed
2.64%
4.65%
  • App: $0
  • Ongoing: $0 p.a.
$604.76
Lock in a competitive rate for 2 years, unlock package discounts and use a 100% offset account to minimise interest payments.
Macquarie Bank Offset Home Loan Package P&IHome≥ 40% Deposit
Macquarie Bank Offset Home Loan Package
2.34%
2.62%
  • App: $0
  • Ongoing: $0 p.a.
$581.39
A sharp variable rate with low fees for borrowers with 40% deposits or refinancers with equity in their properties. Refinancers can switch with a convenient digital application.
loans.com.au Smart Booster Discount Investor Variable Home Loan P&IInvestment≥ 20% Deposit
loans.com.au Smart Booster Discount Investor Variable Home Loan
1.99%
2.71%
  • App: $0
  • Ongoing: $0 p.a.
$554.81
If you have an owner occupier loan with loans.com.au you can also get this very low rate variable mortgage for your investment property. Principal and interest repayments. Add an offset account for an additional 0.10% on your interest rate. Get your loan processed fast and settle within 30 days.
UBank UHomeLoan Fixed P&IInvestment 1Y Fixed≥ 20% Deposit
UBank UHomeLoan Fixed
2.14%
2.71%
  • App: $0
  • Ongoing: $0 p.a.
$566.11
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
Newcastle Permanent Building Society Real Deal Home Loan P&IHome≥ 20% Deposit
Newcastle Permanent Building Society Real Deal Home Loan
2.59%
2.63%
  • App: $595
  • Ongoing: $0 p.a.
$600.83
$2,000 refinance cashback
$2,000 cashback for eligible refinancers borrowing $250,000 or more.
Macquarie Bank Basic Fixed Home Loan P&IHome 3Y Fixed≥ 20% Deposit
Macquarie Bank Basic Fixed Home Loan
2.19%
2.42%
  • App: $0
  • Ongoing: $0 p.a.
$569.91
Borrow up to $5,000,000 with this basic 3 years fixed rate home loan. Refinancers can switch with a convenient digital application.
Well Home Loans Balanced Fixed Home Loan P&IHome 3Y Fixed≥ 10% Deposit
Well Home Loans Balanced Fixed Home Loan
2.04%
2.17%
  • App: $250
  • Ongoing: $0 p.a.
$558.56
A low 3 year fixed rate for home buyers. Add a 100% offset account with a $10 monthly fee. Not available for construction purposes.
IMB Budget Home Loan P&IHome≥ 5% Deposit
IMB Budget Home Loan
2.68%
2.74%
  • App: $449
  • Ongoing: $0 p.a.
$607.92
NSW and ACT customers only. You can get an interest rate discount for a limited time with this competitive variable mortgage.
homeloans.com.au Low Rate Home Loan with Offset P&IHome≥ 10% Deposit
homeloans.com.au Low Rate Home Loan with Offset
2.59%
2.61%
  • App: $0
  • Ongoing: $0 p.a.
$600.83
Save on interest with a free 100% offset account and buy your property with just a 10% deposit. This loan is not available for construction.
Well Home Loans Balanced Variable P&IHome≥ 10% Deposit
Well Home Loans Balanced Variable
2.52%
2.55%
  • App: $250
  • Ongoing: $0 p.a.
$595.35
A very low variable interest rate for borrowers with a 10% deposit. Add a 100% offset account for $10 a month. Not available for construction purposes.
Virgin Money Reward Me Variable Home Loan P&IHome≥ 40% Deposit
Virgin Money Reward Me Variable Home Loan
2.59%
2.76%
  • App: $300
  • Ongoing: $10 p.a.
$600.83
$3,000 refinance cashback.
A variable rate loan for owner occupiers with a 40% deposit (or equity) borrowing under $500,000. Get a $3,000 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 29 August 2021 and settle by 26 November 2021.
Athena Variable Home Loan P&IInvestment≥ 40% Deposit
Athena Variable Home  Loan
2.39%
2.39%
  • App: $0
  • Ongoing: $0 p.a.
$585.25
Investors with large 40% deposits or equity can get this low variable rate. A competitive option for investors looking to refinance.