Home Loans in Queensland (QLD) - Compare Rates from 30+ Lenders

In Queensland, the average variable home loan interest rate for owner-occupiers paying principal and interest is approximately 6.55% as of May 2026. The lowest variable rates available to Queensland borrowers start from 5.69% p.a. (5.71% comparison rate) from online lenders. Fixed rates start from 5.84% p.a. (6.08% comparison rate). These rates assume an 80% loan-to-value ratio on a standard owner-occupier loan. Queensland borrowers benefit from lower median property prices than Sydney or Melbourne, meaning smaller loan sizes and lower total interest paid over the life of the loan.

In Queensland, the best home loan rates as of 2026 come from a mix of online and traditional lenders. Unloan (backed by CommBank) offers a competitive variable rate with offset and redraw. Athena offers a competitive rate with automatic rate matching. Among the major banks, ING leads, followed by Macquarie and CommBank. For fixed rates, Unloan leads on 3-year fixed. Suncorp, headquartered in Brisbane, is also a strong local option with competitive rates and extensive Queensland branch coverage. All major banks operate across all QLD postcodes.

To purchase a home in Brisbane at the median house price of approximately $850,000, you would ideally need a 20% deposit of $170,000 to avoid paying Lenders Mortgage Insurance (LMI). The minimum deposit most lenders accept is 5%, which is $42,500 for an $850,000 property, but LMI will add $12,000-$30,000 to your costs. First home buyers in Queensland can access the First Home Guarantee scheme with just a 5% deposit and no LMI. Queensland offers the highest First Home Owner Grant in mainland Australia at $30,000 for new homes, which can significantly boost your effective deposit. Regional Queensland properties with a median of approximately $550,000 require a 20% deposit of $110,000.

The Queensland First Home Owner Grant (FHOG) is the highest on mainland Australia at $30,000 for eligible first home buyers purchasing or building a new home valued under $750,000. The grant was increased from $15,000 to $30,000 and has been extended through 2026. Eligibility requires the applicant to be an Australian citizen or permanent resident, at least 18 years old, and not have previously owned property in Australia. The home must be a new build, substantially renovated home, or off-the-plan purchase. The applicant must move into the property within one year and live there for at least six continuous months.

First home buyers in Queensland can access the most generous package of grants and concessions in Australia. The Queensland FHOG provides $30,000 for new homes under $750,000 - the highest grant on mainland Australia. First home buyers pay no stamp duty on new homes and receive a stamp duty concession on established homes up to $700,000. The federal First Home Guarantee allows 5% deposits without LMI (35,000 places nationally in 2026). The Help to Buy shared equity scheme requires just a 2% deposit. Queensland also offers the Queensland Housing Finance Loan for eligible applicants in regional areas, and the Regional First Home Buyer Guarantee for regional purchases.

Stamp duty (transfer duty) on an $850,000 property in Queensland is approximately $31,275 for a standard purchaser. First home buyers in Queensland receive a stamp duty concession on homes up to $700,000 for established properties and pay no stamp duty on new homes up to $750,000. For a first home buyer purchasing a new $850,000 property, partial concessions may still apply. Queensland stamp duty rates are generally lower than those in NSW and Victoria for equivalent property values. Foreign buyers pay an additional 8% AFAD (Additional Foreign Acquirer Duty) surcharge.

Beyond the purchase price and stamp duty, buying a home in Queensland involves several additional costs. Conveyancing or legal fees typically run $1,000-$2,000. Building and pest inspections cost $400-$700 and are especially important in Queensland due to termite risk. Loan application fees range from $0-$600. Lenders Mortgage Insurance (LMI) applies if your deposit is below 20% and can cost $8,000-$30,000. Title registration with Queensland Titles Registry is approximately $200. Body corporate searches for units cost $200-$350. Flood and strata searches are recommended in many Queensland areas. Moving costs average $400-$1,500. Budget an additional 3-5% of the purchase price for these costs.

The median house price in Brisbane is approximately $850,000 as of early 2026, according to CoreLogic data. Brisbane has been one of Australia's strongest-performing capital city markets, with prices growing approximately 10% over the 12 months to May 2026, driven by interstate migration from NSW and Victoria and Olympics 2032 infrastructure investment. The median unit price in Brisbane is approximately $560,000. Prices range from $500,000-$650,000 in outer suburbs like Logan, Ipswich, and Moreton Bay to over $1.5 million in inner-city suburbs like New Farm, Paddington, and Ascot.

Yes, most major banks and online lenders approve home loans for regional Queensland properties. All four major banks lend across regional QLD including the Gold Coast, Sunshine Coast, Townsville, Cairns, Mackay, Rockhampton, and Toowoomba. Suncorp has particularly strong regional Queensland coverage. Some lenders may apply postcode restrictions for very remote areas, mining towns with volatile property markets, or properties in flood-prone zones. Regional Queensland median property prices sit around $550,000, making these areas significantly more affordable than Brisbane. The Regional First Home Buyer Guarantee provides additional support for regional buyers.

The Brisbane 2032 Olympic and Paralympic Games are expected to have a significant positive impact on South East Queensland property prices. Historical data from previous Olympic host cities shows average price growth of 50-80% in the decade leading up to the Games. Major infrastructure projects including Cross River Rail, Brisbane Metro, the Gabba redevelopment, and the Western Sydney-style aerotropolis are driving growth in adjacent suburbs. Key areas of impact include Woolloongabba (main stadium), Albion and Northshore Hamilton (athletes' village), the Gold Coast, and Sunshine Coast. Investors and owner-occupiers are already pricing in Olympics-related growth across Greater Brisbane.

Yes, Queensland is significantly more affordable than Sydney and Melbourne for property buyers. Brisbane's median house price of approximately $850,000 is 29% cheaper than Sydney ($1.2M) and 9% cheaper than Melbourne ($930K). Regional Queensland is even more affordable at approximately $550,000. A 20% deposit in Brisbane requires $170,000 compared to $240,000 in Sydney. Monthly repayments on a Brisbane median home (80% LVR, 6.2%) are approximately $4,100 compared to $5,900 in Sydney. Queensland also offers the highest FHOG at $30,000 and no stamp duty on new homes for first home buyers, making it Australia's most FHB-friendly state.