Kuraby vs Runcorn: Buying With a 5% Deposit Under Brisbane's $1 Million Price Cap

If you're a first home buyer looking at Brisbane's southside, Kuraby and Runcorn probably keep showing up in your searches. They sit side by side, share the same train line, and both fall under the $1 million property price cap for Brisbane under the First Home Guarantee. That means you can buy in either suburb with a 5% deposit and skip lenders mortgage insurance entirely.

But "both under the cap" doesn't mean both are the same buy. The type of home your 5% deposit actually stretches to is very different in Kuraby than in Runcorn, and knowing that before you start inspecting saves you months of wasted Saturdays. Here's how the two stack up right now.

Quick Takeaway:

• Kuraby suits buyers who want a townhouse in a quieter, family-heavy pocket with bigger blocks nearby. Townhouses and units sit around a $730,000 median — comfortably under the cap, with a smaller deposit needed.
• Runcorn suits buyers who want more choice and faster transactions. Its unit and townhouse median sits closer to $792,000, but there's roughly three times the volume of stock trading each year.
• Freestanding houses in both suburbs are now largely out of reach under the $1 million cap. Kuraby's house median is around $1.52 million and Runcorn's around $1.25 million.
• If a standalone house is the goal, your realistic path is a renovator or a different suburb.

What Brisbane's $1 million price cap actually means

Since 1 October 2025, the First Home Guarantee has been open to every eligible first home buyer. No income limits, no capped number of places, and no queue. You need a 5% deposit, and the Federal Government guarantees the rest so your lender doesn't charge you lenders mortgage insurance.

For Brisbane, the property price cap is $1,000,000. Two things trip people up here:

• The cap applies to the purchase price and the lender's valuation. If you pay $995,000 but the valuation comes in higher, you can still have a problem.
• Being under the cap doesn't mean you can borrow that much. Your income and existing debts decide that, not the scheme.

Skipping LMI is the big win. On a purchase in the $700,000 to $900,000 range with a 5% deposit, LMI would typically cost somewhere between $20,000 and $30,000 or more. That's money you keep. Our guide on how to avoid LMI in Brisbane Southside walks through the other ways to dodge it if the Guarantee isn't a fit, and our complete First Home Guarantee guide covers eligibility in detail.

Kuraby: quiet, green and townhouse-led

Kuraby sits about 19.5 kilometres south-south-east of the CBD, with roughly 8,700 residents, and borders Runcorn, Eight Mile Plains, Underwood, Stretton, Karawatha and Woodridge.

• House median: around $1.52 million, up roughly 18% over the past year. Well above the cap.
• Unit and townhouse median: around $730,000, up around 16% over the year.
• A 5% deposit at the townhouse median is roughly $36,500, with a loan of about $693,500.
• Only around 28 units and townhouses sold in the past 12 months, so stock is genuinely limited.
• Kuraby railway station is on the Beenleigh line, straight into the city.
• Kuraby State School and Kuraby Special School serve the suburb. There's no local high school, so secondary students travel to neighbouring suburbs.
• Larger residential blocks, plenty of tree cover, and a strong, established multicultural community.

The trade-off is simple: Kuraby's townhouse stock is cheaper, but there's not much of it. You'll need patience and finance ready to move quickly.

Runcorn: more stock, more movement

Runcorn is the next suburb across, covering about 6.5 square kilometres with roughly 14,200 residents and 31 parks taking up nearly a fifth of the suburb.

• House median: around $1.25 million, after very strong growth of close to 30% over the past year. Still above the cap.
• Unit and townhouse median: around $792,000, up about 16% over the year.
• A 5% deposit at that median is roughly $39,600, with a loan of about $752,400.
• Around 79 units and townhouses sold in the past 12 months — nearly three times Kuraby's volume.
• Units and townhouses spent a median of about 15 days on market, faster than Kuraby's 24 days.
• Runcorn railway station, also on the Beenleigh line, plus quick access to the Pacific Motorway and Gateway.

Runcorn State School, Runcorn Heights State School and Runcorn State High School all sit within the suburb — a real advantage for families who want schooling sorted locally.

Not sure which of these two your borrowing power actually reaches? Book a free chat with Evergreen Loan Solutions. We're based in Eight Mile Plains, minutes from both suburbs, and we'll tell you your real number before you fall in love with a listing.

Kuraby vs Runcorn on a 5% deposit: the honest comparison

• Cheaper entry point: Kuraby, by roughly $62,000 at the townhouse median. That's about $3,100 less deposit and a meaningfully smaller loan.
• More choice: Runcorn, comfortably. Nearly triple the annual unit and townhouse sales means more listings to compare and less pressure to settle for something that doesn't suit.
• Faster market: Runcorn. Homes move in around half the time, which cuts both ways — less waiting, but less room to negotiate.
• Schools in-suburb: Runcorn, including a high school.
• Block sizes and green space: Kuraby edges ahead for anyone who values quiet streets and larger land parcels nearby.
• Chance of finding a house under $1 million: Slim in both, slightly better in Runcorn given its lower house median and larger overall sales volume.

If you're weighing up property type rather than postcode, our guide on buying a unit vs a house in Brisbane Southside is worth ten minutes of your time.

The market context you should factor in

Brisbane values have come off the boil. As at August 2026, Cotality put Brisbane's median dwelling value at around $1.08 million, down about 1.0% for the month, though still up close to 11% year-on-year. Listings rose almost 40% over three months, and median days on market stretched from 19 days to 28.

For a 5% deposit buyer, that's not bad news. More listings and slower sales mean more negotiating room than a year ago, and a few homes previously priced above the cap may drift back into range. The flip side: with a 5% deposit you're starting with very little equity — a good reason to buy something you're happy to hold for several years.

Costs your 5% deposit doesn't cover

This is where plenty of first home buyers get caught short.

• Transfer duty. Queensland's first home concession means no duty on an established home valued at $700,000 or less, with a partial concession phasing out up to $800,000. A $730,000 Kuraby townhouse gets a decent concession; a $792,000 Runcorn townhouse gets a much smaller one. Our stamp duty costs guide breaks down the bands.
• First Home Owner Grant. $30,000 is available for eligible buyers of new homes where the combined home and land value is under $750,000. New builds and off-the-plan townhouses in both suburbs can qualify.
• Legal and conveyancing fees, typically $1,500 to $2,500.
• Building and pest inspections, usually $500 to $800.
• Body corporate levies on townhouses and units — check these before you sign, not after.
• Moving, connections and the first few weeks of living costs.

Which suburb suits which buyer?

• Buying alone or on a single income? Kuraby's lower townhouse median stretches your borrowing further.
• Young family who wants schools sorted? Runcorn, with primary and high schooling in the suburb.
• Want to buy in the next 60 days? Runcorn, purely on stock availability.
• Happy to wait for the right property? Kuraby rewards patience with a lower entry price.
• Set on a freestanding house under $1 million? Neither median gets you there, though a well-priced older home occasionally comes up.

Ready to find out what you can actually borrow? Getting pre-approval sorted turns a vague budget into a real one, and gives you the confidence to bid or negotiate on the spot. If your borrowing power looks tighter than you'd like, there are usually ways to lift your borrowing capacity before you apply.

Frequently asked questions

Can I buy a house in Kuraby or Runcorn under the $1 million cap?

It's difficult. Kuraby's house median is around $1.52 million and Runcorn's around $1.25 million. Townhouses and units are the realistic path for most 5% deposit buyers in both suburbs.

How much deposit do I need for a townhouse in Runcorn?

At the current median of around $792,000, a 5% deposit is roughly $39,600, plus a few thousand for transfer duty and other purchase costs.

Is Kuraby or Runcorn cheaper?

For units and townhouses, Kuraby is cheaper by around $62,000 at the median. For houses, Runcorn is cheaper — but both house medians sit above the $1 million cap.

Do I still pay stamp duty with the First Home Guarantee?

Yes. The Guarantee removes lenders mortgage insurance, not transfer duty. Queensland's first home concession is separate and applies based on the property's value.

Are there limits on how many people can use the scheme?

No. Since 1 October 2025 there have been no place limits and no income caps.

The bottom line

Kuraby and Runcorn are genuinely close neighbours with genuinely different opportunities. Kuraby gives you a lower entry price and a quieter setting if you're willing to wait for the right townhouse. Runcorn gives you more stock, faster settlements and local schools, at a slightly higher price. Both sit under Brisbane's $1 million cap for units and townhouses, and both put you a short train ride from the CBD.

What matters most isn't the suburb — it's knowing your real borrowing number before you start looking, so you're comparing homes you can actually buy. Talk to Evergreen Loan Solutions today. As a local mortgage broker serving Runcorn, Kuraby and the wider southside, we'll check your First Home Guarantee eligibility, compare lenders across the market and get your finance ready before the right property appears. Get in touch for a free, no-obligation chat — it costs you nothing and could save you tens of thousands.

Property figures are medians drawn from publicly reported suburb data as at 2026 and move over time. Information here is general only and doesn't take your personal circumstances into account. Speak with a licensed mortgage broker before making a decision.