Can Temporary Residents Buy Property in Australia? Yes — With the Right Strategy
The team at Visa Executive are often asked by temporary visa holders if they can buy a house in Australia. The answer is – we don’t know – so we have reached out to the star of mortgage brokers in Australia, Alycia Inglis – Property Investor, and Founder of award winning mortgage brokers at Stoneturn and asked the question. Please read her comments below and contact details are at the bottom of the article.
One of the most frequent questions visa specialists and migration consultants receive from clients is:
“Can I buy property in Australia while on a temporary visa?”
The short answer is: Yes, but there are conditions.
With the right planning and expert support, temporary residents can absolutely secure a home in Australia — and set themselves up for financial success in the process.
What Temporary Residents Can Buy
As of 1 April 2025, a two-year ban came into effect restricting foreign nationals — including temporary visa holders — from purchasing second-hand (established) dwellings.
However, you can still purchase:
- Vacant land to build a new home, or
- Newly constructed dwellings (such as brand-new apartments, houses, or townhouses that have never been lived in).
That said, depending on where you live — particularly in cities or inner suburbs — buying vacant land isn’t always a practical option. Suitable land can be scarce, and undertaking a full construction project is often complex, time-consuming, and not ideal for those newly arrived or still settling in.
A more accessible and common strategy is to purchase a brand-new apartment or house that has never been occupied. This approach can serve as a stepping stone into the property market. It allows you to gain a foothold in the Australian housing system while offering your family greater security, stability, and control than renting.
What Changes When You Get Permanent Residency
Once your PR is granted, the restrictions lift. You’ll have full access to the property market — including established homes — just like an Australian citizen.
Financing as a Temporary Resident
Yes, temporary residents can get a mortgage, but:
- Not all lenders will accept all visa types.
- Each bank has different credit policies around visa status, income type, and deposit size.
You’ll generally need:
- A 20% deposit plus purchasing costs like stamp duty and legal fees.
- A clean credit history (Australian and, in some cases, overseas).
- Pre-approval before you house-hunt — especially if attending an auction.
Tip: Some lenders may accept a 5–10% deposit, but this usually comes with additional conditions like Lender’s Mortgage Insurance (LMI).
For any enquiries, please feel free to contact Stoneturn:
Alycia Inglis : [email protected]
Jenny Lam: [email protected]
