Postcode Calculator
Use this calculator to find out property-related details based on your postcode.
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Use our Postcode Calculator to estimate property values and market trends in your desired area. Get a quick snapshot of the real estate landscape based on postcode data.
Postcode Calculator
Why Does Your Postcode Matter For A Home Loan?
When applying for a home loan, lenders often request your property’s postcode as part of the assessment process. The location is crucial in determining the value, risk, and terms of a mortgage, as properties in different postcodes can have unique risks, market values, and demand levels that influence a lender’s decision.
By using the postcode calculator, you can understand how your location may affect your home loan eligibility and borrowing capacity. Properties in higher-risk areas may require a larger deposit or face stricter lending criteria.
What are the location categories?
A particular area or postcode may have different classifications for different lenders depending on their interpretation of the property market in that area.
Some lenders will also take historical data into account.
For example, Helia (formally Genworth Financial) considers Western Sydney to be high risk because they’ve had a lot of losses in that area.
On the other hand, QBE LMI has more restrictions on some areas that have an unstable economy.
Is your location considered to be high risk?
Call us on 0862430351 or complete our free online assessment form because we may still be able to help.
Why do lenders have postcode categories?
Lenders assess loans differently depending on the location of the property being offered as security. They apply stricter lending policies in high-risk locations to limit their risk. In most cases, this means they often reduce the maximum available LVR and the maximum loan amount that you’re able to borrow.
For example, if you apply for a 95% mortgage in a Category 3 location, the lender may decide that this is too high a risk and therefore may request that you reduce your loan to 90% or 80% LVR. If this happens and you’re unable to come up with a larger deposit, your mortgage application will be declined.
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Home loans with no postcode restrictions
Some of our lenders may consider any location in Australia, allowing you to borrow up to 95% LVR. You can read more on our no postcode restrictions page.
Although there are lenders with no location restrictions, they may limit your loan amount in some states due to comments made by their valuer.
Typically, NSW, VIC, QLD and the ACT do not have problems like this due to the valuer. However, TAS, SA, NT and WA have extremely remote areas, which cause some valuers to list adverse comments in their report to the bank.
How does the Helia Security Location Guide work?
Mortgage brokers and leners use Helia’s Security Location Guide to determine how Helia will view the risk of a postcode and the borrowing limit that they will be willing to approve.
As Helia is one of the largest mortgage insurers in Australia, their assessment of postcodes and the risk they pose affects many lenders and how much they can approve for home loans that are over 80% of the property value (80% LVR).
Helia postcodes are in different groups using the population of the area, the size of the postcode (km2), number of sales per annum and median house prices.
In addition to the normal categories, Helia also has high-density postcodes where policy restrictions apply to apartments.
How does the QBE Location Guide work?
QBE’s Location Guide has a similar breakdown of postcodes and risk as Helia but there are fewer categories and no high-density postcodes.
Metro areas and regional areas are acceptable as long as the loan isn’t too large while other areas are on a case-by-case basis.
QBE defines property as being high-density based on the size of the block of units, not because of the postcode.
Related Topics
Determine Property Prices by Postcode
Discover average property prices within a specific postcode, helping you gauge the affordability of areas you’re interested in.
Check Stamp Duty Rates
Calculate the stamp duty you’ll need to pay when buying property in a specific postcode, as it can vary by location.
Explore Loan Eligibility
Assess your loan eligibility based on the postcode of the property you’re interested in, as some areas may affect lending criteria.
Identify Growth Potential
Use the calculator to learn about the potential for property value growth in different postcodes, helping you choose the best area for investment.
Find Local Amenities
Get insights into the availability of nearby amenities such as schools, shops, and transport options that can impact your property’s value.
Compare Postcode Data
Compare multiple postcodes to see which one aligns best with your budget, lifestyle preferences, and investment goals.
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