Home loans in Brisbane
Looking to buy a property in Brisbane? Compare eligible Brisbane home loans today!
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Different home loan types you can get in Brisbane
If you want to buy real estate in Brisbane, it’s important to understand which type of home loan may be best suited to your financial circumstances and needs:
Top 3 things to know about getting a home loan in Brisbane
1
You’ll have a stricter settlement date
In other parts of Australia, the settlement date can be pushed back or otherwise amended if required without compromising the sale. In Queensland, however, the contract of sale can be voided if the agreed-upon settlement date is not met by one or both parties – meaning you’ll want to make sure you can commit to whatever settlement date you end up locking in.
2
You may pay more for a conveyancer
In Queensland, conveyancing work must be handled by a qualified solicitor, whereas in other parts of the country it can be done by a licensed conveyancer who is not a solicitor. This means you may pay more to have conveyancing work done in Queensland compared to other states and territories.
3
Location is everything
Brisbane has a lot to offer its residents but, like anywhere, certain parts of Brisbane are nicer to live in than others – and tend to come with higher property prices as a result. If there are specific suburbs or areas where you’re looking for properties, you may want to check flood maps, crime maps and/or flight path maps to get a more holistic view of the liveability of those suburbs. These types of things can also impact your home and contents insurance or car insurance premiums.
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A guide to home loans in Brisbane
Updated 30 July 2025
An introduction to home loans
Selling Houses Australia host, Andrew Winter explains how home loans work, and covers off some basics that prospective homebuyers need to know.
Andrew Winter
Home Loans
Transcript
“Hi, I’m Andrew Winter, host of Selling Houses Australia.
I’ve sold a lot of homes in my time, but to be able to buy one in the first place,
you’ll need a home loan first.
As a matter of fact, most of us will need to take out a home loan at some point or another
if we want to buy a house.
So, what is a home loan, and how does it work?
Well, a home loan is much like any other bank loan – you borrow a certain amount of money
from your lender, and then pay it back over time
plus the interest that’s being charged on the loan, which is determined by your home loan interest rate.
But, when it comes to home loans, there’s a few things you’ll want to keep in mind.
First off, you’ll usually need a saved deposit this will ideally be a minimum of 20%
of your desired home loan size, but can be as low as 5% for certain borrowers, including
first home buyers and single parents.
That’s not to say you can’t have a 5% deposit as a regular borrower, some lenders
may still give you a home loan – they’ll just charge you lender’s mortgage insurance
in exchange, along with a higher rate to boot.
Second, the home loan is secured against the property you bought with it, which means that
you own the property at settlement, but the lender has a vested interest in your property
until the day the home loan is closed.
Before selling the home or refinancing the home loan attached to the property, you’ll
need to let your lender know – they’ll have a form for you to fill out, just ask them.
And the third – this one is absolutely crucial – comparison is key.
Just because you need a home loan to buy a home doesn’t mean you should settle for a bad one.
Compare the Market can help you learn everything you need to know about home loans, so that
you can compare with confidence.
Once you’re ready to compare, you can use their new home loan comparison tool to compare
home loans on things like rates, fees, features and more,
plus they’ve got a team of Home Loan Specialists who are always on-hand to answer any questions
you might have, and help you make an informed decision about which home loan might be suitable for your needs.
Whether you are a home loans novice or a property buying expert, Compare the Market
can help make your next homebuying journey a breeze.”
Find out more about home loans
Expert tips for buying property using a Brisbane home loan
Our General Manager of Money, Stephen Zeller, has some tips for people looking to break into the local property market in Brisbane:
Stephen Zeller
General Manager – Money
Don’t overlook flood risk
A riverside view can be appealing but do your research before committing to any property on or near the Brisbane River. Many parts of Brisbane are subject to flooding during periods of sustained rainfall, which could put a dampener on their long-term property values.
Don’t rule units out from the get-go
If you’re looking around Brisbane for your first home, it’s worth considering a unit or apartment as your first property purchase. It may not be your forever home, but there are plenty of Brisbane suburbs where you can get units for less than a house might cost.
Compare your options and do your research!
If you want to buy a home in Brisbane, you’ll probably need a home loan – and we can help you with that! Our online home loan comparison and brokerage service will only show you home loan products from a range of providers we think you’d be eligible for, and lets you compare and apply all in the one place, with no physical paperwork. We also offer free credit score checks and free property and suburb reports, to make sure you’ve got the knowledge you need to buy in Brisbane with confidence.
Getting a home loan in Brisbane
Which lenders offer home loans in Brisbane?
If you’re a Brisbane resident looking for a home loan, the majority of Australian home loan providers will be willing to lend to you – with a few exceptions. Bank of Melbourne and BankSA are arms of the Westpac Group located in and exclusively servicing Victoria and South Australia respectively.
How to apply for a home loan in Brisbane
Thankfully, the home loan application process doesn’t often vary too much between states and territories, so applying for a home loan in Brisbane will look a lot like applying for a home loan anywhere else in Australia. Here’s an overview of the whole process and the steps involved:
- Decide what you’re looking for in a home loan by thinking about your current financial situation, your borrowing power, and what type of home loan, loan amount and loan term length could be the most suitable for you. You may also want to think about what types of home loan features you would prefer, like an offset account, a redraw facility, etc.
- Pulling together the necessary documentation, including personal identification, bank statements, and payslips.
- Begin the home loan comparison process – we can help you with this by showing you a range of home loan options we think you could be eligible for.
- Once you’ve decided on the home loan you want to apply for, we’ll help you complete and submit your application to the lender.
- If your application is successful, you’ll receive formal loan approval and be ready to buy your Brisbane property.
How to refinance your home loan in Brisbane
If you’re looking to refinance your home loan in Brisbane, you’ll be pleased to know that it won’t be too different than if you’d chosen to refinance somewhere else in Australia. The process of refinancing typically won’t vary much from the base loan application process, whether you’re trying to change your interest rate or taking advantage of a loan offer like a cashback deal or discount.
Is government assistance available for Brisbane first home buyers?
First-time home buyers in Queensland may be eligible for two separate incentives offered by the Queensland State Government: the First Home Owner Grant (FHOG) and either a full stamp duty exemption or a stamp duty concession.
First home buyers around Australia may also be eligible for the First Home Guarantee, which allows first home buyers to take out their first home loan with as little as a 5% deposit, with the Federal Government acting as a guarantor. This means recipients will end up with a loan-to-value ratio (LVR) of 80%, and they subsequently won’t have to pay lenders mortgage insurance (LMI).3
What to know when buying a property in Brisbane
Location is key
When buying a property in Brisbane, there are some key considerations to keep in mind, including:
- Brisbane is built on a flood plain, and many suburbs are subject to flooding during seasonal periods of heavy rainfall.
- It’s always a good idea to look at the crime maps for any suburbs or parts of Brisbane you’re thinking of buying a property in.
- School catchments. If you have, or are planning on having kids, you may want to cross-check any properties you have your eye on against the relevant nearby school catchment areas.
- Flight paths. In July 2020, Brisbane Airport opened a second runway, increasing its capacity and associated air traffic. This means parts of Brisbane are now subject to greater amounts of flight path noise.
Don’t forget stamp duty
Stamp duty (also known as transfer duty) works differently and is charged at different rates based on which state or territory you’re in. You’ll want to make sure you’re familiar with how stamp duty is calculated in Queensland and factor in possible costs before you commit to buying a property.
Can foreigners buy property in Brisbane?
Yes, foreigners are allowed to buy residential property in Queensland. However, they will typically need to pay an additional 8% duty on top of the already-payable stamp duty when acquiring residential property. This is known as additional foreign acquirer duty (AFAD).4
What is the property and housing market like in Brisbane?
What is the average home loan rate in Brisbane?
While there isn’t Brisbane-specific data regarding the average home loan interest rate being paid by Brisbane residents, as of March 2025, the average interest rate for a new, owner-occupied home loan in Queensland was 5.99 % per the Reserve Bank of Australia (RBA).5
The average interest rate for a new investment home loan in Queensland was 6.22%.5 It’s worth keeping in mind however, that many investment home loans are initially interest-only, which tends to entail a higher-than-usual interest rate. An interest-only loan also only requires the borrower to make interest repayments for the duration of a pre-determined interest-only period.
While this can increase the cost of the loan over the life of the loan, as your home loan repayments won’t be going towards paying down your home loan principal, it will generally make for smaller weekly, fortnightly or monthly repayments towards your home loan.
Remember that lower isn’t always automatically better when it comes to finding a great deal on home loan interest rates – make sure you always check the comparison rate (along with the comparison rate disclaimer) whenever you’re looking at a home loan’s advertised interest rate. The comparison rate will give you a ballpark idea of the financial product’s affordability and ‘real cost’ after annual and ongoing fees have been taken into account along with the interest rate.
What size is the average home loan in Brisbane?
As of March 2025, the average owner-occupier home loan taken out in Queensland was $641,000 according to the Australian Bureau of Statistics (ABS). The average investment loan size for Queensland was $625,000.1
Additionally, when it comes to home loans Compare The Market have helped to secure and settle for Brisbane residents, the average loan size for refinancers was just under $426,000 ($425,730) and the average new home loan taken out was just over $435,000 ($435,150).
How big is the average home in Brisbane?
According to the ABS, as of 2021-2022 the average floor area of a new house in Queensland was 226.1m. This represents a 7.86% decrease from 2011-2012 when the average floor area of a new house in Queensland was 245.4m.6
What’s the average cost of a home in Brisbane?
According to PropTrack data, the median value of a home in Brisbane was $882,000 as of April 2025. This was more than both the aggregated capital city median home value of $873,000, and the national median home value of $805,000.7
Brisbane had the second-highest median home value of any Australian capital city, with Sydney taking the top spot boasting a median home value of $1,118,000.7
What are the cheapest suburbs in Brisbane?
According to CoreLogic, here are the 10 cheapest suburbs in Brisbane by median value for both houses and units:8
| Lowest median house values | Lowest median unit values |
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What are the most expensive suburbs in Brisbane?
Courtesy of CoreLogic, here are the 10 Brisbane suburbs with the highest median values for houses and units:8
| Highest median house values | Highest median unit values |
|---|---|
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Meet our home loans expert, Stephen Zeller
Stephen has more than 30 years of experience in the financial services industry and holds a Certificate IV in Finance and Mortgage Broking. He’s also a member of both the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Mortgage and Finance Association of Australia (MFAA).
Stephen leads our team of Mortgage Brokers, and reviews and contributes to Compare the Market’s banking-related content to ensure it’s as helpful and empowering as possible for our readers.
Want to know more about home loans?
1Australian Bureau of Statistics. Lending indicators (March Quarter 2025). 2025.
2Corelogic. Monthly Housing Chart Pack (May 2025). 2025.
3Housing Australia. First Home Guarantee. 2025.
4Queensland Revenue Office. Additional foreign acquirer duty (AFAD). 2025.
5Reserve Bank of Australia. Lenders’ Interest Rates (March 2025). 2025.
6Australian Bureau of Statistics. Average Floor Area of New Residential Dwellings (2023). 2025.
7PropTrack. Home Price Index (May 2025). 2025.
8CoreLogic. Mapping the Market (May 2025). 2025.