How much deposit do I need to buy in Melbourne?

For Melbourne's median house price of $1.05M, a 20% deposit is $210,000. Many buyers enter with 10% ($105,000) and pay LMI, or use the First Home Guarantee with 5% ($52,500) and no LMI. Units offer a lower entry point — many Melbourne units are available from $500K–$700K.

What stamp duty will I pay in Victoria?

VIC stamp duty on a $1,000,000 property is approximately $55,000. First home buyers purchasing under $600,000 pay no stamp duty. Between $600K and $750K, a partial concession applies. This is one of the most generous first home buyer concessions in Australia.

Is Melbourne property a good investment in 2026?

Melbourne offers relative value compared to Sydney, with a median house price approximately 30% lower. Rental yields are competitive at 3–4% gross for houses. The outer growth corridors offer strong capital growth potential driven by infrastructure investment and population growth.

Can I use a Brisbane-based broker for a Melbourne property?

Yes — Fairbanks Financial operates nationally. We handle Melbourne applications remotely and have deep knowledge of Victorian lender policies, stamp duty rules, and grant eligibility. All major lenders operate nationally, so your broker's location doesn't affect your rate.

How does the Victorian First Home Owner Grant work?

Victoria's $10,000 First Home Owner Grant applies to eligible first home buyers purchasing or building a new home valued under $750,000. It applies to new builds only — not established homes. You must move in within 12 months of settlement and live there for at least 12 months.

Melbourne, Victoria

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Melbourne

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Melbourne Property Market

The Melbourne market — what you need to know

$1.05Mmedian house price — Melbourne 2026

Melbourne median house price is approximately $1.05M in 2026, with units averaging $620K.
Victoria offers one of Australia's most generous first home buyer stamp duty concessions — full exemption under $600K.
Melbourne's outer growth corridors (Werribee, Melton, Cranbourne) offer houses from $550K–$750K.
Strong rental demand across inner Melbourne with gross yields of 3–4% for houses.
Victoria's First Home Owner Grant of $10,000 applies to new builds under $750,000.