By Chaice Paterson, CEO & Founder, Low Deposit Homes | Updated June 2026

Comparing like-for-like — a brand-new 4-bedroom home with a second living space and a double garage — house-and-land packages in Cranbourne start from about $750,000 in 2026. Cranbourne, in the City of Casey about 45km south-east of Melbourne, is one of Victoria’s most active first home buyer markets. Because it sits inside metropolitan Melbourne, the federal 5% Deposit Scheme applies up to $950,000, the $10,000 First Home Owner Grant applies to new homes up to $750,000, and — because Victorian duty is assessed on the land — eligible first home buyers pay $0 stamp duty. Here is exactly how the numbers work.

How much deposit do you need to buy a first home in Cranbourne in 2026?

You typically need around $37,500 for a 5% deposit on a $750,000 new 4-bedroom build in Cranbourne, plus roughly $3,500 in fees — about $41,000 total cash, before the $10,000 grant. Under the 5% Deposit Scheme you pay a 5% deposit with no Lenders Mortgage Insurance, and you pay $0 stamp duty because the land value sits under the $600,000 first-home exemption. A 20%-deposit buyer would need about $150,000 on the same home. Run your own figure with the free Grant Eligibility Calculator.

What does a like-for-like new home cost in Cranbourne?

A brand-new 4-bedroom house-and-land package with a second living area and a double garage prices from about $750,000 in Cranbourne in 2026. The suburb’s overall house median (around $725,000) is lower, but that reflects smaller and older established homes — not the comparable new family product. Cranbourne East in particular has a deep new-build pipeline, keeping the 4-bedroom product below the $950,000 5% Scheme cap and at the $750,000 grant cap.

Which first home buyer grants and schemes apply in Cranbourne?

All four main schemes can apply to a Cranbourne new build, and which ones fit depends on your package price.

Do you pay stamp duty on a new home in Cranbourne?

No — most first home buyers pay $0 stamp duty in Cranbourne. Victorian transfer duty on a house-and-land package is calculated on the land value (you buy the land and build under a separate fixed-price contract), and Cranbourne East lots sit under the $600,000 first-home exemption. So even though the completed 4-bedroom package is around $750,000, there is no duty to pay. On a larger premium lot above $600,000, a sliding concession applies to the land value only.

Which new estates in Cranbourne have house-and-land packages?

Cranbourne and its growth precincts have a strong new-build pipeline in 2026, anchored in Cranbourne East by master-planned communities such as Livingston and Eliston, alongside other Casey releases. These estates release titled and registering land suited to first home buyers, with 4-bedroom house-and-land packages from about $750,000, plus parks, schools, shopping and rail access at Cranbourne station. We match you to a registering lot and a fixed-price build so your scheme eligibility and timeline are protected. Cranbourne is one example of where we build — we build across Victoria and Queensland.

What’s the realistic cash-on-hand for a first home in Cranbourne?

Indicative example — a couple buying a $750,000 Cranbourne 4-bedroom new build under the 5% Scheme: 5% deposit $37,500; $0 stamp duty (land under the exemption); $0 LMI (5% Scheme); about $3,500 in fees — roughly $41,000 total cash, before the $10,000 First Home Owner Grant is credited at settlement. These figures are indicative; check how much you could borrow with the Borrowing Power Calculator and confirm your grants with the Grant Eligibility Calculator.

Is Cranbourne a good suburb for first home buyers?

Yes — Cranbourne suits first home buyers who want a brand-new home in an established, well-serviced south-east corridor with deep supply, rail to the city and mature amenity. The 5% Scheme, the $10,000 grant and $0 stamp duty all apply, and the new 4-bedroom product sits well below inner-Melbourne pricing. The trade-off is the south-east commute and an area still adding infrastructure as it grows. For most first home buyers held back by the deposit gap rather than income, Cranbourne is one of the stronger Casey options in 2026.

How Low Deposit Homes helps Cranbourne first home buyers

We map your eligibility across every scheme, match you to a registering Cranbourne lot under the right price cap, structure the build to keep the $10,000 grant in play, and coordinate the finance through a licensed broker so your 5% Scheme place and timeline stay protected. The service is free to you — Low Deposit Homes is paid by the builder, not the buyer.

Frequently asked questions

Q: How much deposit do I need to buy a house in Cranbourne?
About 5% — roughly $37,500 on a $750,000 new 4-bedroom build — with no LMI under the 5% Deposit Scheme, plus around $3,500 in fees, before the $10,000 grant.

Q: Do I pay stamp duty on a new home in Cranbourne?
No. Victorian duty is assessed on the land value, which sits under the $600,000 first-home exemption, so most first home buyers pay $0.

Q: Can I get the $10,000 First Home Owner Grant in Cranbourne?
Yes, on a new home up to $750,000. A $750,000 4-bedroom package is at the cap and qualifies.

Q: What’s the 5% Deposit Scheme price cap in Cranbourne?
$950,000, because Cranbourne sits within metropolitan Melbourne. New 4-bedroom packages price below this.

Q: Do permanent residents qualify in Cranbourne?
Yes. Permanent residents are treated as equivalent to citizens for the 5% Scheme, the First Home Owner Grant and the stamp duty rules (Help to Buy is citizens-only).

Low Deposit Homes is not a lender or mortgage broker, and is free to buyers. All calculations are indicative and not financial advice. Eligibility is confirmed with a licensed broker.