New data reveals the true upfront costs of buying a home in SA
Oct 6, 2025
Looking to buy a house in Adelaide but struggling to scrape together a deposit?
A new report reveals that even with $30,000 in savings, South Australians have enough to cover the 20 per cent deposit and all of the upfront costs on a house in 26 suburbs.
The cheapest is Elizabeth North, where you need just $21,880 in total upfront costs to buy a $510,000 house.
Looking to buy a unit in metropolitan Adelaide and have just $30k in savings? You can do that in 55 suburbs – with the cheapest being in Kurralta Park where just $15,405 will secure you a $381,500-median property.
Grow those savings to $50,000, potentially through a dual income partnership – and you unlock an additional 202 Adelaide suburbs in which you can buy a home.
The extra $20,000 in savings unlocks a median-priced unit in another 18 metropolitan suburbs.
Regional buyers have even more choice – $30,000 will get you into a median-priced house in 59 suburbs and towns, and a unit in four outside metro Adelaide.
Up that deposit to $50,000 and you unlock a house in another 17 towns, and a unit in one more – Normanville.
Mike Mortlock of MCG Quantity Surveyors
MCG Quantity Surveyors director Mike Mortlock said high home prices relative to incomes meant 20 per cent deposits became unrealistic for many new buyers years ago.
The difference was that today even saving up a much lower deposit was becoming a challenge at current prices, he said.
“It’s a real hurdle,” Mr Mortlock said.
“Even putting together a 5 per cent deposit in some areas is getting difficult. It can still be a lot of money and take an average earner years to save.
“It’s been made even harder by the high cost of living. Most people are spending their salaries to cover their living expenses. To start really building up their savings, they would need a big pay rise.”
Mr Mortlock said a 20 per cent deposit, once the most common deposit size, was too much of a stretch in many of the most expensive big city markets without parental help.
“It’s been widely reported that the bank of mum and dad is now the nation’s fifth largest lender,” he said.
“It’s great for those who can get that support, but some people don’t have parents who can do it.”
The Reserve Bank of Australia’s recent rate cut had many South Aussies refinancing their home loan in order to keep household budgets in check.