In postcode 2150 (Parramatta and Harris Park), the median strata home sold for $620,000 in the March quarter 2026, and three in four sold for $730,000 or less. That's under the $800,000 threshold where eligible first home buyers pay no NSW transfer duty, and well under the $1.5 million cap for the 5% Deposit Scheme.
Parramatta prices against the schemes
The median is the middle sale price: half the homes sold for more and half for less. "Strata" means units, apartments and townhouses in a strata scheme.
| Area | Houses | Strata |
|---|---|---|
| Postcode 2150 (Parramatta, Harris Park) | Not published (10 or fewer sales) | $620,000 |
| City of Parramatta (council area) | $1,860,000 | $710,000 |
| Greater Sydney | $1,550,000 | $855,000 |
Median sale prices, January to March 2026. As at March quarter 2026. Source: NSW Rent and Sales Report (NSW Department of Communities and Justice).
Almost every home sold in postcode 2150 that quarter was a strata home: 221 of 222 sales. What those prices sit against, as at 30 October 2026:
- 5% Deposit Scheme (formerly the First Home Guarantee): eligible first home buyers can buy with a 5% deposit and no lenders mortgage insurance, on a home up to $1.5 million in Sydney.
- NSW First Home Buyers Assistance Scheme: no transfer duty on a home up to $800,000, and a reduced amount up to $1 million.
- First Home Owner (New Homes) Grant: $10,000 for a new or off-the-plan home up to $600,000.
Each scheme has its own eligibility rules, so check them and the exact address with the official tools before you make an offer.
From renting to buying
On a $620,000 unit, a 5% deposit is $31,000. On top of the deposit, budget for conveyancing, a strata report and the loan's own costs. If you're eligible for the stamp duty exemption, there's no transfer duty to add. The stamp duty and First Home Guarantee calculator shows what you'd pay if you're not.
A lender works out how much you can borrow from your income, your living costs and your debts, with a buffer on top of the interest rate. Once you own the unit, strata levies replace rent in that calculation, so they matter as much as the price. The borrowing power calculator gives you a starting point.
Before you buy a unit
- Read the strata report before you exchange contracts: it shows the levies, the money in the building's capital works fund, and any defects or disputes.
- Check the lender's apartment policy: some lenders limit how much they'll lend on small apartments or in some high-density buildings. Policies vary.
- Off the plan: a pre-approval usually lasts a few months, but an off-the-plan home may settle much later. The lender values the home near settlement, and if the valuation is lower than the contract price, you cover the difference.
New to Australia, or buying with family help
If you're on a temporary visa, or recently became a permanent resident, different rules can apply to what you can buy and which schemes you can use. See home loans for visa holders. If parents or family overseas are helping with the deposit, lenders will want to see where the money came from, so start gathering the paperwork early.
Guides for buyers here
- How does the First Home Guarantee (5% Deposit Scheme) work in 2026? The 5% Deposit Scheme in 2026: who's eligible, NSW price caps ($1.5m in Sydney), no income caps, no LMI, and how to apply through a participating lender.
- Can I use money from my parents overseas for my home deposit? Using a gift from parents overseas, for example in Nepal or India, for your home deposit: what lenders ask for, how to move the money, and the tax rules.
- Should I buy a home now or wait until I get PR? Buying on a temporary visa vs as a permanent resident in NSW: what you can buy, extra fees and duty, first home buyer schemes, and a worked $750,000 example.
Useful calculators
- NSW stamp duty and First Home Guarantee calculator Work out NSW stamp duty, including first home buyer exemptions and the foreign buyer surcharge, and check the First Home Guarantee.
- Borrowing power calculator Estimate how much you could borrow from your income, expenses and debts, using the same 3% buffer lenders use.
- Can I get a home loan? Check your situation Five quick questions on your visa, income, credit history and deposit: see what lenders usually look at for someone like you.
- Mortgage repayment calculator Work out weekly, fortnightly or monthly repayments and the total interest, principal and interest or interest-only.
How MoneyGenie helps
- Works out what you could borrow while you're still renting, and whether you're eligible for the 5% Deposit Scheme and the stamp duty exemption.
- Checks the unit's price against each scheme's limit before you make an offer, including for new and off-the-plan homes.
- If your deposit includes money from family overseas, helps you get the paperwork lenders ask for in order.
- Meets Sydney clients face to face, as well as by phone and video.
Nabita compares options from MoneyGenie's panel of 35+ lenders, tells you upfront which are realistic for your situation, and handles the application with you through to settlement. Our service is generally at no cost to you, as we're paid a commission by the lender, which we disclose to you upfront. Details are in our Credit Guide, available on request. Talk to Nabita: call 040 110 1608 or send an enquiry.
Call 040 110 1608 Send an enquiryFrequently asked questions
Can I use the 5% Deposit Scheme to buy in Parramatta?
Yes, if you're eligible and the home costs no more than $1.5 million, the cap for Sydney. Most strata homes in postcode 2150 sold well under that in the March quarter 2026. Check the exact postcode with the official price cap tool.
Do first home buyers pay stamp duty on a Parramatta unit?
Under the NSW First Home Buyers Assistance Scheme, eligible first home buyers pay no transfer duty on a home up to $800,000 and a reduced amount up to $1 million. The median strata home in postcode 2150 sold for $620,000 in the March quarter 2026, under the $800,000 threshold.
Can I get the First Home Owner Grant on an off-the-plan unit?
Yes, if it's a new home and you're eligible. The $10,000 grant applies to a new or off-the-plan home with a purchase price up to $600,000. Many Parramatta units cost a little more than that, so check the price first.
Where do these prices come from?
From the NSW Government's Rent and Sales Report, which publishes median sale prices by postcode each quarter, for houses and for strata homes (units, and townhouses in a strata scheme). Too few houses sold in postcode 2150 for a house median to be published.
Last reviewed by Nabita, mortgage broker, MoneyGenie Finance.
Official sources
The rules and figures on this page were checked against the official sources above on the review date. Government rules, property prices and lender policies change, so check your own situation with us or the relevant authority before acting.
Also see: Buying in the Hills District.