5% of $300,000

How it works

Percentages work the same at any price point: result = base × (percent ÷ 100). Here, $300,000 × (5 ÷ 100) = $15,000. Regional Australian property markets often have median prices well below the capital cities, so a 5% deposit target is a smaller, more achievable dollar figure there — Moneysmart’s home deposit guide covers how deposit size affects your borrowing options wherever you’re buying.

Worked example

Marcus lives in Townsville, Queensland, where he’s found a three-bedroom house listed at $300,000 — well under the price of an equivalent home in Brisbane or further south. His mortgage broker suggests he could qualify for a low-deposit loan with just 5% down. 5% of $300,000 is $300,000 × 0.05 = $15,000, so that’s Marcus’s savings target. Compared to a 5% deposit on a $700,000 capital-city property, Marcus needs to save $20,000 less — a big part of why regional buyers can often get into the market faster.