How much do you need to save each fortnight for a house deposit?
Updated 2026-10-15 · Australia
Short answer
Take your deposit target, add buying costs, subtract what you've already saved, and divide by the number of fortnights until you want to buy. For example: $80,000 target + $5,000 costs − $15,000 saved = $70,000; over 3 years (78 fortnights) that's about $897 a fortnight, before any interest.
The formula
Per fortnight = (deposit + buying costs − saved so far) ÷ fortnights left
Fortnights left = years × 26.
What to include in buying costs
- Stamp duty (check your state's first home buyer concessions)
- Conveyancing and legal fees
- Building and pest inspections
- Loan establishment fees and, if under 20% deposit, lenders mortgage insurance
Make it automatic
Schedule the transfer for payday. Sorted Budget's Goals tab calculates the per-pay amount for every goal and shows progress bars.
Frequently asked questions
Should I save in an offset or a savings account?
Before you have a loan, a high-interest savings account is the usual choice; compare rates.
What if I'm paid weekly?
Use 52 instead of 26.
Sources
Last checked 2026-10-15.