Short answer: in our worked example, a single senior reporter on about $102,900 could borrow around $533,000. Add $14,000 a year of weekend casual work and that rises to about $616,000. With the 5% Deposit Scheme and the NSW first home buyer stamp duty exemption, that is enough for a two-bed unit in Parramatta at about $620,000, with roughly $31,000 down, no lenders mortgage insurance and no stamp duty.
To make the numbers more fun, we ran them for Peter Parker, if he swapped Queens for Sydney.
The borrower: a single senior reporter
This Peter is an experienced photojournalist with about seven years on the front page. In Sydney he works as a senior reporter on $102,861, around the Australian average for the role. On weekends he does casual pizza delivery shifts worth about $14,000 a year. He is single, has no dependants, rents, and has one credit card with a $5,000 limit.
Step one: permanent residency
As a foreign buyer, Peter would pay the 9% NSW surcharge purchaser duty on top of normal stamp duty, and foreign buyers are currently banned from buying established homes. So the path matters. Print journalism is on Australia's skilled occupation list, so a Sydney outlet sponsors him on a Skills in Demand (482) visa, and after two years he gets permanent residency through the Employer Nomination (186) visa. As a permanent resident he is treated like a local first home buyer.
How much can he borrow on one salary?
About $533,000. Two things shape that number:
Being single with no dependants means lenders apply the lowest living cost benchmark, which helps.
His credit card counts against him even with a $0 balance. Lenders assess the $5,000 limit as a monthly commitment.
Lenders also test every loan at a rate about 3% above the actual rate, so the figure is lower than many people expect.
Does casual income count?
Usually, with conditions. Most lenders want 6 to 12 months of history in the casual role, and some only count part of it. With his $14,000 of pizza shifts counted, Peter's borrowing power rises to about $616,000.
The deposit: 5% with no LMI and no stamp duty
Price: about $620,000
Deposit: about $31,000 (5%)
Loan: about $589,000
Lenders mortgage insurance: $0 under the 5% Deposit Scheme
Stamp duty: $0 under the NSW First Home Buyers Assistance Scheme (normally about $22,100)
Both schemes are for Australian citizens and permanent residents and are subject to eligibility and price caps.
What it buys
A two-bed unit in Parramatta at about $620,000. Two bedrooms, one Peter. The second room is for the suit.
The takeaways
If you are moving to Australia, permanent residency changes what you can buy and what it costs.
Casual or second-job income can add real borrowing power once you have some history.
Unused credit card limits still reduce how much you can borrow.
Your own number depends on your income, debts and the lender's policy.
FAQs
Can a permanent resident use the 5% Deposit Scheme?
Yes. The scheme is open to Australian citizens and permanent residents who meet its other eligibility rules.
Do banks count casual income?
Many do, usually once you have 6 to 12 months in the role. Some lenders count all of it and others only part, so lender choice matters.
Does an unused credit card reduce how much I can borrow?
Yes. Lenders assess the card limit, not the balance, so closing or reducing unused limits can help.
How much can a single person on $100,000 borrow?
In our example, about $533,000 on a $102,861 salary with no other debts apart from a $5,000 card limit. Your figure depends on your expenses, debts and the lender.
What could you borrow?
Your income is only half the story. Book a free chat with Echidna Equity
Borrowing figures are estimates for illustration only, based on average salaries, lender living-cost benchmarks and the APRA serviceability buffer, as at October 2026. Peter's circumstances are our assumptions. This is general information only and does not take into account your objectives, financial situation or needs. Visa and foreign investment rules are general information only. Subject to eligibility and lender credit criteria. Fees and charges apply. Your full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product.