Where your home loan might go further: South Australia takes the lead on new housing

By Cameron Thomson · · 2 min read
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Adelaide city south australia SA

In a surprising turn of events, South Australia (SA) has topped Commsec's state-based economic report, a first in its 15-year history. Victoria, the previous leader, now ties with NSW in second place. 

“Population growth in South Australia has tripled over the past two years, which is showing up in a strong housing market and overall economic activity,” said CommSec chief economist Craig James. 

This shift is particularly significant for home buyers. With SA topping the list in construction work and maintaining low unemployment rates, the housing market might look like an attractive destination. 

What size home loan do you need for SA?

South Australia’s surge in construction indicates a growing availability of new homes, making it an opportune time for potential homeowners to consider the size and type of home loan that would best suit their needs in this thriving market.

According to Domain, the median price of a two-bedroom house in Adelaide is $726,000, while the median price for a three-bedroom house is $919,000. So, depending on your loan-to-value ratio (LVR), how big a deposit and loan do you need for these properties?

Deposit Size
Two-bedroom Median 
Three-bedroom Median
10% LVR
$72,600
$91,900
20% LVR
$145,200
$183,800
30% LVR
$217,800
$275,700
Loan size
Two-bedroom Median 
Three-bedroom Median
10% LVR
$653,400
$827,100
20% LVR
$580,800
$735,200
30% LVR
$508,200
$643,300

Of course, remember that interest rates will also influence how much you have to pay for your loan, so it’s important to compare rates. Currently, Mozo’s database puts the average variable rate loan at 6.85% (as of 6 February), which can be a helpful benchmark to compare loans against.

The CommSec State of the States report uses the latest available information to provide an economic snapshot of each state and territory by comparing eight key indicators: economic growth, retail spending, equipment investment, unemployment, construction, population growth, housing finance and dwelling commencements.

Not sure where to get started on home loans? Head over to our home loan hub page and compare the 464 home loans that we track. Alternatively, you can check out some of the products in the table below… 

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Last updated 5 December 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing
  • Promoted

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.10 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • The first home loan with an automatic loyalty discount (conditions apply)
    • No application or banking fees
    • Built by CommBank

  • First Home Buyer Loan

    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • For first home buyers
    • Offset available
    • Redraw available
    Interest rate
    4.99 % p.a.
    Variable
    Comparison rate
    5.04 % p.a.
    Initial monthly repayment
    $2,681
    Go to site
    • Competitive interest rate – 4.99% p.a. (comparison rate* 5.04% p.a.)
    • Offset account to reduce interest and save on repayments
    • No establishment or monthly fees, plus valuation fees waived up to $1,000 (limited time)

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.09 % p.a.
    Fixed 2 years
    Comparison rate
    5.43 % p.a.
    Initial monthly repayment
    $2,712
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.

  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.10 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • The first home loan with an automatic loyalty discount (conditions apply)
    • No application or banking fees
    • Built by CommBank

  • Discount Great Rate Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.20 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • Get up to $3,000 cashback when you apply online (T&Cs apply)
    • No paperwork or payslips required (see site for details)
    • Low variable rate

  • Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.29 % p.a.
    Variable
    Comparison rate
    5.33 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.

  • Offset Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.39 % p.a.
    Variable
    Comparison rate
    5.42 % p.a.
    Initial monthly repayment
    $2,805
    Go to site
    • No ongoing monthly loan maintenance fees to pay.
    • Pre-approval valid for 3 months
Showing 6 results from 380 home loans. Use the filters to see more

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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