The Easiest Way to Understand First Home Buyer Stats

The median first home buyer in Perth is now around 34 years old and purchasing with a partner.

That single statistic shifts the conversation. If you're worried you've missed the boat because you're in your early thirties and still renting, you're not behind. You're in the middle of the pack. The numbers also tell us something else: most people entering the market today are doing it differently than their parents did. Smaller deposits, government schemes, and dual incomes are now the norm, not the exception.

Most Perth First Home Buyers Use a Deposit Under 10%

Around 60% of first home buyers in Perth access the market with a deposit of less than 10%. That includes buyers using the 5% Deposit Scheme or saving a smaller amount and paying Lenders Mortgage Insurance. The shift happened gradually as property values grew faster than wages, and lenders adjusted their lending criteria to match how people actually save.

Consider a buyer who has saved $25,000 over three years. Ten years ago, that might have been close to a 10% deposit on a median Perth property. Today, it covers a 5% deposit on a unit in the northern suburbs and leaves room for settlement costs. Instead of waiting another two years to reach 10%, that buyer can enter the market now and start building equity while still renting would mean watching prices climb further.

The data also shows that buyers using smaller deposits aren't stretching themselves thinner on repayments. They're typically borrowing within the same serviceability range as buyers with larger deposits, but they're accessing the market sooner and locking in at today's prices rather than next year's.

The Average First Home Loan in Perth Sits Around $400,000

The typical loan size for a first home buyer in Perth is between $380,000 and $420,000. That reflects both the kinds of properties people are buying and the amount lenders are comfortable advancing based on income and expenses. It also tells you that most buyers aren't starting with a four-bedroom house in an established suburb. They're starting with what fits their budget and their life right now.

In our experience, buyers at this loan size are often looking at units closer to the city, townhouses in growth corridors, or older homes in suburbs with strong infrastructure. The repayments on a loan of this size, depending on your deposit and the rate you secure, typically fall between $2,200 and $2,600 per month. For two people earning a combined income of around $120,000, that sits comfortably within serviceability limits and leaves room for living expenses.

What matters more than the average is where your own income and savings sit relative to what you want to buy. A $400,000 loan might buy a two-bedroom unit in South Perth or a three-bedroom house in Baldivis. Your priorities and your commute will shape which one makes sense. If you're unsure what your borrowing capacity looks like based on your income, our borrowing capacity page walks through how lenders assess your application.

Around 40% of First Home Buyers in WA Access a Government Scheme

Nearly half of all first home buyers in Western Australia use either the First Home Owner Grant, a stamp duty concession, or a federal deposit scheme to get into the market. That's a significant proportion, and it reflects how valuable these programs are when you're trying to close the gap between what you've saved and what you need.

The First Home Owner Grant in WA currently provides $10,000 for buyers purchasing or building a new home under a certain value threshold. Stamp duty concessions can save you several thousand dollars more, depending on the purchase price. For buyers using a 5% deposit, the federal scheme removes the need for Lenders Mortgage Insurance, which on a $400,000 loan would otherwise cost between $8,000 and $15,000.

These aren't small amounts. In a scenario where a buyer has $22,000 saved, the grant alone increases their effective deposit to $32,000. That shifts them from needing LMI on a $420,000 purchase to entering the market with a buffer for settlement and initial costs. The stamp duty concession then reduces the upfront cash required even further. Stacking these benefits is one of the most effective ways to make your savings work harder without waiting another year.

Single Buyers Make Up Around 30% of First Home Purchases

While most buyers are purchasing with a partner, close to one in three first home buyers in Australia are doing it alone. That includes single parents, people who've been saving independently, and buyers who've used a guarantor to supplement their deposit or borrowing capacity.

Single buyers face a different set of obstacles. Serviceability is based on one income, so the loan amount a lender will approve is often lower than what a couple with similar combined earnings could access. Saving a deposit on a single income also takes longer, especially if you're paying rent at the same time. But the data shows it's still happening, and it's happening more often than many people assume.

For single buyers, guarantor loans can provide a pathway when savings or income alone aren't quite enough. A parent or family member can use the equity in their own home to support your application without handing over cash. Single parents also have access to the 2% Deposit Scheme, which allows entry to the market with a much smaller upfront amount and no LMI. Both options require careful planning, but they've opened the door for buyers who would otherwise be waiting years to build a larger deposit.

First Home Buyers Are Staying in Their First Property for Around Five to Seven Years

The idea that your first home is your forever home doesn't match how most people actually move through the market. The average first home buyer in Australia stays in their first property for five to seven years before selling or refinancing to upgrade. That timeframe reflects a combination of life changes, equity growth, and shifting priorities.

When you buy your first home, you're usually optimising for affordability and entry. A two-bedroom unit gets you in. A townhouse in a developing suburb gets you in. Five years later, you might have a child, a higher income, or enough equity to move into something larger without starting your savings from scratch. The first property isn't the endpoint. It's the foundation.

This also means that the decision about where to buy and what to buy should be based on what works for the next five years, not the next thirty. If a suburb is 40 minutes from your current workplace but has strong capital growth potential and affordable entry points, that might be the right move even if you don't plan to stay there long-term. The goal is to get in, build equity, and position yourself for the next step. Waiting for the perfect forever home often means waiting too long.

What the Numbers Mean for Your Own Application

Statistics describe the market, but they don't prescribe your path. If you're 28 and buying alone, you're younger than the median and doing it without a partner. That doesn't mean you're not ready. If you've saved 7% and you're wondering whether that's enough, the data tells you that most buyers are entering with less than 10%, and many are using schemes to make smaller deposits work.

The more useful question is whether your income, your savings, and your goals align with what's available right now. Pre-approval gives you a clear answer. It tells you what you can borrow, what repayments will look like, and whether you're in a position to make an offer when you find something that fits. It also removes the guesswork and lets you focus on properties that are actually within reach.

Call one of our team or book an appointment at a time that works for you. We'll walk through your situation, show you what's possible, and help you work out the most effective way to use the savings and income you have right now.

Frequently Asked Questions