Buying a home in Perth is a major milestone—but one of the first and most important questions buyers ask is:
“How much deposit do I really need?”
With house prices in Perth continuing to rise and the cost of living squeezing savings potential, it’s crucial to understand your options when it comes to home loan deposits in 2025.
In this guide, we’ll break down minimum deposit requirements, available government support schemes, and how much you’ll need based on Perth’s current property prices.
What’s the Minimum Deposit for a Home Loan in Perth?
Generally, lenders require a minimum deposit of 5% to 20% of a property’s value. However, the size of your deposit affects your eligibility, borrowing power, and whether you’ll need to pay Lenders Mortgage Insurance (LMI).
| Deposit Size | Typical Requirements | LMI Payable? |
|---|---|---|
| 5% | Must meet stricter lending criteria. First Home Guarantee may apply. | Yes (unless eligible for LMI waiver) |
| 10% | More flexible than 5%, but still may attract LMI. | Yes |
| 20% | Standard requirement for avoiding LMI. Preferred by most lenders. | No |
Example Deposit Amounts Based on Perth Median Prices (March 2025)
According to REIWA, Perth’s median house price as of March 2025 is $770,000, and median unit price is $520,000.
| Property Type | 5% Deposit | 10% Deposit | 20% Deposit |
|---|---|---|---|
| House ($770k) | $38,500 | $77,000 | $154,000 |
| Unit ($520k) | $26,000 | $52,000 | $104,000 |
Keep in mind, you’ll also need to budget for stamp duty, legal fees, inspections, and other upfront costs.
Government Schemes That Help You Buy with a Lower Deposit
In 2025, buyers in Perth have access to a range of government support programs:
First Home Guarantee Scheme
- Buy with as little as 5% deposit without paying LMI.
- Limited spots available each financial year.
- Income and property price caps apply.
First Home Owner Grant (WA)
- $10,000 grant available for newly built homes or off-the-plan purchases.
- Must be a first-time buyer of a new residential property in WA.
Stamp Duty Concessions
- First home buyers may be eligible for full or partial stamp duty exemptions on properties under a certain value (currently $430,000 – $530,000 for homes in WA).
Tips for Saving Your Home Deposit Faster
If you’re still working toward your deposit, here are some smart strategies:
- Open a high-interest savings account or offset account.
- Create a strict savings plan and automate transfers each pay cycle.
- Use the First Home Super Saver Scheme (FHSSS) to save using pre-tax dollars.
- Cut unnecessary spending and track every expense.
- Consider a guarantor loan if your family can help back your purchase.
Should You Wait Until You Have a 20% Deposit?
Not necessarily. While a 20% deposit avoids LMI and gives you more lender options, many Perth buyers are successfully purchasing with as little as 5%, especially with government support.
However, lower deposit loans do come with trade-offs:
- Higher monthly repayments
- LMI can add thousands to your loan
- Stricter income and credit checks
The key is balance: Get into the market early enough to take advantage of growth, but don’t overstretch your budget.
Talk to a Perth Mortgage Broker Today
Every buyer’s situation is different. A local mortgage broker can:
- Help you calculate exactly how much deposit you’ll need.
- Find lenders who accept low-deposit applications.
- Identify which government schemes you qualify for.
Start With What You Can Afford
While saving a deposit can feel daunting, there are real pathways into the Perth property market in 2025. Whether you’ve got a full 20% deposit or you’re working with 5%, getting expert advice early can help you make a confident and financially smart move.
Ready to take the next step?
Contact us today to calculate your deposit needs and explore your home loan options.
Disclaimer: The information provided on this blog is for general informational purposes only and does not constitute financial or professional advice. While we strive to provide accurate and up-to-date information, mortgage laws and regulations can change, and individual circumstances may vary. We recommend consulting with a qualified financial advisor or mortgage broker to assess your specific situation and needs. Base Home Loans is not responsible for any actions taken based on the content of this blog. Always conduct your own research and consider seeking professional advice before making financial decisions.
