How to Buy Property in 2026: Everything You Need to Know Before Getting a Mortgage

Jan 13, 2026

Navigating the property market has become increasingly complex. Discover why the 5% deposit scheme is both a blessing and a curse. Learn how banks are changing their processes, with tougher assessments impacting approvals. Find out the common mistakes first-time buyers make before even starting their search. Get expert tips on avoiding panic-bidding and making well-informed decisions. Plus, explore strategies to reduce your mortgage life and whether to prioritize repayment or investing.

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INSIGHT

5% Deposit Scheme Widens Access And Competition

The First Home 5% Deposit Scheme now removes the income cap so many more buyers can access 5% deposits.
Property price caps rose significantly in some cities, widening eligibility but increasing competition.

ADVICE

Use Sold Data To Set Real Budgets

Check sold prices on realestate.com.au and Domain before house-hunting to set realistic budgets.
Aim lower in search ranges to give wiggle room for competitive bidding and avoid repeated outbids.

INSIGHT

Bank Turnaround Times Are Unreliable

Bank turnaround times for loan assessments have stretched dramatically, sometimes to 16–21 days.
That delay combines with broker processing time and affects your ability to bid at auctions quickly.

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If buying a home feels harder (and way more confusing) than it did a year ago, no, you’re not imagining it. The rules have changed, the competition has changed, and suddenly everyone is talking about 5% deposits like they’re either your golden ticket or the end of the world. Lucky for us, mortgage queen Jaclyn Walsh is here to break down what’s actually going on in the property market heading into 2026. We unpack the headline changes everyone’s yelling about, what they mean in real life, and Jac’s inside scoop on how banks are really assessing and approving loans right now. Plus we answer the biggest property finance questions straight from our community. This episode is all about putting yourself in the strongest possible position to buy, without spiralling, second-guessing every move, or making rushed decisions you regret later.

In this ep:
🏡 Why buying with five percent feels easier and more stressful at the same time
🏡 What banks have changed behind the scenes… and why it matters to you
🏡 The mistake first home buyers are making before they even start looking
🏡 How to buy without panic-bidding, overcommitting, or regretting it later
🏡 Why Victoria isn’t racing to pay off her mortgage (on purpose)
🏡 Hacks that shave years and thousands off your mortgage

For all your mortgage and refinancing needs, you can contact Zella here.

MORE EPISODES WITH JAC: Want to Buy Property in 2025? Here's How to Get Prepared
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Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements.

The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.

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