In short: A subclass 482 Skills in Demand visa holder can buy a new dwelling, an off-the-plan home or vacant land with foreign investment approval, but not an established house while the federal ban runs to 30 June 2029. Lenders treat the 482 as the strongest temporary visa, commonly to 80% of value, sometimes higher.
Of all the temporary visas, the 482 is the one lenders are most comfortable with. You have an Australian employer who has gone through a nomination process to keep you, a salary paid in Australian dollars, and a defined route to permanent residency. None of that changes your position under foreign investment law, which is where most of the cost sits.
What the visa is
The Skills in Demand visa is a temporary visa that lets an employer sponsor a skilled worker for a role they cannot fill locally. It replaced the Temporary Skill Shortage visa and runs in three streams: Core Skills, Specialist Skills and Essential Skills under a labour agreement. The Core Skills stream is granted for up to four years, and Hong Kong passport holders may be granted five.
The permanent route runs through the employer nomination scheme, generally after a set period working for the sponsoring employer. See 186 and 187 employer sponsored home loans for what changes the day that visa is granted.
What applies to you
| Question | Position for a subclass 482 holder |
|---|---|
| Visa type | Temporary, up to four years |
| Pathway to permanent residency | Yes, via employer nomination (subclass 186) |
| Foreign investment approval needed | Yes, before an unconditional contract |
| Can buy an established dwelling | No, while the federal ban runs to 30 June 2029 |
| Can buy new, off-the-plan or vacant land | Yes, with approval and conditions |
| 5% Deposit Scheme eligible | No, it requires citizenship or permanent residency |
| State first home owner grant | No, unless a co-applicant is a citizen or permanent resident |
| Typical maximum LVR | 80% is the common ceiling; a small group of lenders go higher |
| Foreign purchaser duty surcharge | Yes, 8% in Victoria, 9% in New South Wales at the time of writing |
| Lenders mortgage insurance | Applies above 80%, and insurers restrict temporary residents |
Policy differs lender to lender and changes without notice. We confirm current appetite against your grant notice before you make an offer.
What lenders actually look at
- Time remaining on the visa. More than 12 months keeps most doors open. Under six months closes most of them, unless a permanent visa application is already lodged.
- Length of service with the sponsor. The 482 is tied to an employer, so a recent job change is a bigger question mark than it would be for a permanent resident.
- Australian-sourced income. Salary from your sponsoring employer, evidenced by payslips and an ATO income statement. Overseas income is accepted by only a handful of lenders and usually shaded heavily.
- Deposit trail. Funds transferred from overseas need receipts and a clear source. Money that simply appears is a decline.
- The same serviceability buffer as everyone. Lenders assess your repayments at your rate plus 3 percentage points.
Nothing on that list is about your nationality. It is about whether the income survives the next three years, and a sponsored visa is the best temporary answer to that question.
Worked example: a 482 nurse buying a $750,000 apartment
Sunita holds a Core Skills 482 with three years remaining and earns $118,000 as a registered nurse. She is buying a brand-new $750,000 apartment as her home.
Victorian land transfer duty on $750,000 is $2,870 plus 6% of the excess over $130,000: $2,870 + $37,200 = $40,070.
| Line | At 80% LVR | At 90% LVR with mortgage insurance |
|---|---|---|
| Purchase price (new apartment) | $750,000 | $750,000 |
| Deposit | $150,000 | $75,000 |
| Loan | $600,000 | $675,000 |
| Land transfer duty | $40,070 | $40,070 |
| Foreign purchaser additional duty at 8% | $60,000 | $60,000 |
| Foreign investment application fee (band up to $1m) | $15,600 | $15,600 |
| Conveyancing, inspections, adjustments | about $3,000 | about $3,000 |
| Cash needed at settlement | $268,670 | $193,670 |
For illustration, at 6.00% p.a. over 30 years, $600,000 costs about $3,597 a month and $675,000 about $4,047 a month, before any mortgage insurance premium is added to the loan.
The 90% column is not a guarantee. Only a small group of lenders on our panel will go above 80% for a temporary resident, mortgage insurers apply their own visa rules, and the premium is a real cost. But the comparison shows where the money is: the $118,670 of duty surcharge, application fee and ordinary duty is fixed no matter which loan you take. It is the part you cannot borrow and the part people underestimate.
If Sunita instead waits for her employer nomination and buys as a permanent resident, the $60,000 surcharge and the $15,600 fee disappear, established homes become available, and a 5% deposit with no mortgage insurance becomes possible under the 5% deposit guarantee.
Practical points that catch 482 buyers out
Signing before approval. Make the contract conditional on foreign investment approval, or hold the approval first. Buying without it is a breach with penalties.
"As new" is not new. A renovated house, or a new home someone else has already lived in, is an established dwelling. Get the status in writing.
Vacant land carries conditions. Approval for vacant residential land generally requires construction to be completed within four years and the land not to be sold before then. See construction loans and house and land packages.
Changing employers mid-application. A nomination transfer during a loan application will usually restart the lender's employment assessment.
Leaving Australia later. If you move overseas and keep the property, absentee owner surcharges and vacant residential land tax can apply.
Our home loans for visa holders page covers our process end to end, buying property as a temporary resident covers the rules that apply across every temporary visa, and home loans by visa subclass compares the 482 with every alternative. Many of our 482 clients buy in Melbourne's north; see Craigieburn mortgage broker.
Frequently asked questions
Can I get a home loan on a 482 visa?
Yes. The 482 is the temporary visa lenders accept most readily, because you have an Australian sponsor, Australian income and a permanent residency pathway. The common ceiling is 80% of the property value, with a small group of lenders going higher with mortgage insurance. Expect to show at least 12 months remaining on the visa, or a lodged permanent visa application, plus payslips and a documented deposit.
Do 482 visa holders need FIRB approval?
Yes. A 482 holder is a temporary resident and therefore a foreign person, so approval is required before acquiring an interest in residential land, whatever the price. Applications go through the Australian Taxation Office and carry a non-refundable fee, which is $15,600 for a property valued at $1 million or less at the time of writing. The fee bands are indexed each July.
Can a 482 visa holder buy an established house?
Generally no. The government's ban on foreign persons buying established dwellings runs from 1 April 2025 to 30 June 2029, and its exceptions are commercial rather than personal. That leaves new dwellings, off-the-plan apartments and townhouses, and vacant land to build on. The exception worth knowing is buying as joint tenants with a spouse who is an Australian citizen or permanent resident.
How much deposit do I need on a 482 visa?
Plan on 20% plus costs. On a $750,000 Victorian purchase that is $150,000 deposit plus roughly $118,670 in ordinary duty, the 8% surcharge and the foreign investment fee. Some lenders will consider 90% with mortgage insurance for strong sponsored applicants, which cuts the deposit but not the government charges. The surcharge and fee always come from cash.
Should I buy now or wait for permanent residency?
It depends on how far away the nomination is. Permanent residency removes roughly $75,600 of cost on a $750,000 Victorian purchase, opens established stock and allows a 5% deposit with no mortgage insurance. If it is within a year or two, waiting usually wins. If it is uncertain, your visa is secure and rent is climbing faster than your savings, buying new can still make sense.
Talk to GNT Finance
Send us your 482 grant notice and two payslips and we will come back with the lenders that will consider you, the loan-to-value ratio each will allow, and the full cash figure including duty, surcharge and the foreign investment fee. Gorakh Timilsina assessed applications as a senior credit officer before founding GNT Finance, and consultations are available in English, Nepali or Hindi, with an interpreter in your language on request. Book a free consultation or call 0426 403 703.
This page is general information only and not legal, tax, migration or financial advice. Visa and foreign investment rules change — confirm current requirements with the Department of Home Affairs, the Foreign Investment Review Board or a registered migration agent.
Written by Gorakh Timilsina
Founder, CEO & Senior Mortgage Consultant at GNT Finance. Gorakh started as a broker assistant, spent years as a senior credit officer assessing loan applications, and now helps Melbourne families get the right loan approved. English, Nepali and Hindi spoken.