Craigieburn sits about 25 kilometres north of the Melbourne CBD in the City of Hume — one of the fastest-growing corridors in the country, built around newer estates, family-sized blocks, its own train line and the Craigieburn Central retail hub. In 2026 it remains one of the most important first home buyer markets in metropolitan Melbourne, and for a simple reason: both the median house and the median unit sit comfortably under the $950,000 First Home Guarantee cap. That single fact changes the deposit, the scheme eligibility and the loan structure available to buyers here. If you are weighing up a purchase, a mortgage broker in Craigieburn can translate these headline prices into the exact deposit, borrowing power and scheme figures that apply to your own situation.
This guide covers what the Craigieburn market looks like in September 2026 — median prices, growth, yields, and the deposit and loan scenarios buyers are working with right now. It is general information and does not constitute tax advice; anything relating to negative gearing, depreciation or deductibility should be discussed with your accountant.
What Is Happening in the Craigieburn Property Market in 2026?
Craigieburn has posted steady, broad-based growth in 2026, with units running noticeably ahead of houses. The median house price now sits around $715,000, up roughly 7.6% over the past twelve months, while the median unit price sits near $485,000 — up around 12.3% year-on-year. Stock remains tight relative to buyer demand, and days on market for houses have shortened compared with last year, reflecting a corridor that continues to absorb strong population growth from families priced out of the inner and middle rings.
| Metric (2026) | Houses | Units / townhouses |
|---|---|---|
| Median price | ~$715,000 | ~$485,000 |
| Annual price change | ~+7.6% | ~+12.3% |
| Median weekly rent | ~$550 | ~$450 |
| Gross rental yield | ~4.2% | ~4.1% |
| Under $950K FHG cap? | Yes | Yes |
Why Craigieburn Is a First Home Buyer Sweet Spot
Very few metropolitan Melbourne suburbs let a first home buyer purchase a freestanding house and still stay inside every major government scheme. Craigieburn is one of them. At a median around $715,000, houses sit well under the $950,000 First Home Guarantee cap for Melbourne — meaning eligible buyers can purchase with a 5% deposit and pay no Lenders Mortgage Insurance. That is the difference between saving $35,750 and saving $143,000 before you can buy.
The suburb also has a large supply of new and near-new homes, house-and-land packages and off-the-plan townhouses. That matters, because the $10,000 First Home Owner Grant applies only to new builds under $750,000 — a scheme that is effectively irrelevant in established inner suburbs but genuinely available across Craigieburn's estates. Stacking these schemes correctly is where a first home buyer loan assessment earns its keep. The nearby Fawkner property market and Coburg North property market guides show how the pricing picture shifts as you move back towards the city.
How Much Deposit Do You Need to Buy in Craigieburn?
The deposit required depends on whether you are buying a house or a unit, and whether you are using a government scheme or a guarantor structure. Here are the key 2026 scenarios:
| Scenario | Purchase price | Deposit needed | LMI? | Stamp duty (FHB) |
|---|---|---|---|---|
| Unit — 5% + First Home Guarantee | $485,000 | $24,250 | No (govt guarantee) | $0 (full exemption) |
| Unit — 10% deposit | $485,000 | $48,500 | ~$7,000–$9,000 | $0 (full exemption) |
| House — 5% + First Home Guarantee | $715,000 | $35,750 | No (govt guarantee) | Partial concession |
| House — 10% deposit | $715,000 | $71,500 | ~$12,000–$15,000 | Partial concession |
| House — 10% + guarantor loan | $715,000 | $71,500 | No (parent security) | Partial concession |
| House — 20% deposit | $715,000 | $143,000 | No | Partial concession |
On stamp duty: a first home buyer purchasing a unit under $600,000 pays nothing — the full Victorian exemption applies. A first home buyer house at $715,000 falls in the $600,001–$750,000 band, where a partial first home buyer concession applies on a sliding scale — reducing, but not eliminating, the duty. The exact figure depends on your price, so run it through the Victorian State Revenue Office calculator, and use our home loan calculators to model repayments at your target price. Buyers who want to avoid LMI with a smaller deposit should look at a guarantor home loan, which uses a parent's property equity as additional security.
First Home Buyer Schemes Available in Craigieburn
Craigieburn buyers can potentially access three schemes at once, and the combination is what makes the suburb so accessible on paper.
First Home Guarantee (5% deposit, no LMI)
Because both houses and units sit under the $950,000 Melbourne metropolitan cap, eligible first home buyers can purchase with a 5% deposit and the government guarantees the balance — removing LMI entirely. Craigieburn is a metropolitan suburb, so the standard First Home Guarantee applies (not the regional variant). Places are subject to eligibility and availability, which change through the year.
Victorian stamp duty exemption and concession
First home buyers pay zero stamp duty on a home under $600,000 (covering most Craigieburn units) and a reduced, sliding-scale concession between $600,001 and $750,000 (covering the typical Craigieburn house). Above $750,000 the concession no longer applies — a reason many buyers here deliberately target the sub-$750K price bracket.
First Home Owner Grant and First Home Super Saver
The $10,000 First Home Owner Grant applies to new homes valued under $750,000 — a genuine option in Craigieburn's estates, where house-and-land and off-the-plan stock is plentiful. The First Home Super Saver Scheme can be used alongside any of the above to build your deposit faster through voluntary super contributions.
What Can You Actually Borrow to Buy in Craigieburn?
A $715,000 house bought with a 5% deposit under the First Home Guarantee requires a loan of around $679,000. At the current average variable rate of roughly 6.9%, and with APRA's 3% serviceability buffer applied, lenders assess your capacity to repay at close to 9.9%. To service a loan of that size, most lenders look for a combined household income in the region of $140,000–$160,000 — before accounting for other debts, dependants and each lender's specific expense model.
That income band is achievable for many dual-income households in the corridor, which is a large part of why Craigieburn keeps drawing first home buyers. Where it gets tight is single-income buyers, or households carrying car loans, HECS-HELP or credit card limits — all of which reduce borrowing capacity before servicing is even assessed. IFG's deliberately broad panel of bank, non-bank and specialist lenders lets us match you to a lender whose expense assumptions and income treatment suit your circumstances, rather than accepting the first bank's number. A same-day assessment from a director tells you your real ceiling before you make an offer or bid at auction.
Investors: What Craigieburn's Rental Market Looks Like in 2026
Craigieburn offers investors something increasingly rare in metropolitan Melbourne: yields above 4% on both houses and units, paired with a comparatively low entry price. A $715,000 house returning around $550 per week produces a gross yield near 4.2%; a $485,000 unit at around $450 per week yields close to 4.1%. Those figures sit well above the 2.5–3.5% yields common in the inner and middle rings, and the lower purchase price makes the cash-flow gap far easier to fund.
Demand-side fundamentals are solid: the Hume corridor continues to record some of the strongest population growth in the state, the Craigieburn train line links directly to the CBD, and Craigieburn Central plus expanding local employment support consistent tenant demand. Units have led on capital growth over the past year, which is worth weighing against houses' larger land component when you think about a long-term hold. Investors should note that changes to negative gearing grandfathering introduced in the 2026 federal budget affect properties contracted after 1 October 2026 — a point for your accountant before you commit. Existing owners reviewing their position may also want to read our refinancing overview.
Buying or Investing in Craigieburn? Talk to IFG Today
IFG is based in Coburg North, just down the line from Craigieburn. Brian Hermosilla has brokered home loans and investment loans across Melbourne's northern corridor for over a decade, drawing on 45+ combined years of banking and broking experience across the IFG team. We respond the same business day — from a director. No fees to you.
Book a Free 15-Min Call See our Craigieburn mortgage broker page →Frequently Asked Questions: Craigieburn Property Market 2026
- Is Craigieburn good for first home buyers in 2026?
- Craigieburn is one of the strongest first home buyer suburbs in metropolitan Melbourne. Both the median house (~$715,000) and median unit (~$485,000) sit under the $950,000 First Home Guarantee cap, so eligible buyers can purchase with a 5% deposit and no LMI. Units under $600,000 attract full stamp duty exemption, and new-build homes can qualify for the $10,000 First Home Owner Grant.
- How much deposit do you need to buy in Craigieburn?
- For a house around $715,000: a 5% deposit is roughly $35,750 (eligible for the First Home Guarantee with no LMI), a 10% deposit is $71,500, and a 20% deposit of $143,000 avoids LMI entirely. For a unit around $485,000: a 5% deposit is roughly $24,250, and units under $600,000 pay no stamp duty for first home buyers. A guarantor home loan can remove LMI with a 10% deposit using a parent's equity.
- What is the average house price in Craigieburn in 2026?
- The median house price in Craigieburn is approximately $715,000 in 2026 (sources range $710,000–$764,000 depending on sample period), up around 7.6% over the past twelve months. The median unit price is approximately $485,000, up around 12.3% year-on-year — units have grown faster than houses. Figures vary by data source and measurement period.
- Is Craigieburn a good suburb for investment in 2026?
- Craigieburn offers investors a rare combination for metropolitan Melbourne: gross rental yields around 4.1–4.2% on both houses and units, well above inner-suburb yields of 2.5–3.5%, plus a lower entry price. Strong population growth in the Hume growth corridor, the Craigieburn train line, and Craigieburn Central retail support consistent tenant demand. Units in particular have posted double-digit annual growth.
This article is general information only and does not constitute financial, credit, tax or legal advice. Property market data is sourced from third-party aggregators (htag.com.au, Woodards, OpenAgent, Your Investment Property) and reflects estimates for the September 2026 quarter — figures vary by source, sample size and measurement period. Stamp duty, First Home Guarantee, First Home Owner Grant and lending criteria are subject to eligibility, availability and individual assessment and may change. Tax implications of investment property (including negative gearing grandfathering changes from October 2026) should be discussed with a qualified accountant. Deposit and stamp duty scenarios are indicative only.