How Long Does It Take To Settle In Australia
5-MINUTE READ
Are you looking for a new life in a new country, and out of the many countries, have you chosen Australia?
Are you hoping to move to New South Wales, Victoria, South Australia, Victoria or any other rich and wonderful Australian territory to settle into a new community? As an expat, your goal will be to begin your new life, migrate to and settle into a new home that’s ideal for your circumstances. You’ll need to settle comfortably and grow accustomed to a new lifestyle.
A key aspect of any settlement period in an Australian territory and purchasing a home is knowing how long does it take to settle in Australia. There are many factors to consider when answering this question, so check out the information included in this article to learn the answer!
What is meant by settlement?
In terms of the question of how long it takes to settle in Australia, the initial thing to grasp is what is meant by settlement, which refers to a whole process that is legal, summing up the transference of property ownership. The term “settlement” directly relates to how long it takes to settle in Australia, and there are several things that can impact this.

What is the settlement process and how long is the settlement period?
As part of the complete settlement process, there is a settlement period that you will have to go through. This settlement period is normally one to four three months, but many factors can affect this, as you will realise by the end of this article.
Get a free Australian mortgage assessment today.
How long does it take to settle in Australia: Key cultural factors for getting housing
You’ve got a few cultural factors to grow accustomed to when settling in Australia. Since getting the right housing might require soliciting the services of a bank or mortgage lender, you will need to ensure that your English skills are developed enough to establish the loan term and understand interest rates that match your financial situation and personal needs.
What’s also important is that your ability to get housing may depend on whether you’re among the skilled migrants with visas who have looked for support from a migration agent which can help if you’re looking to rent a property, but those looking to purchase property will find a few different requirements that they must fulfil and come to an agreement with a bank or lender.
Of course, whether you purchase or rent depends on your financial and personal circumstances.
How is the settlement date established?
Now, a key aspect of settlement is the settlement date, which is established by the seller of the property and the buyer, (you), and gets the ball rolling. The seller of the property will record the settlement date and write it in the sale contract. It’s a crucial aspect in relation to the question of how long does it take to settle in Australia and marks the start of the process.
What processes occur on the day of settlement?
A few processes occur on the day of settlement that count towards the question how long does it take to settle in Australia. Your solicitor (or agent responsible for settlement), your lender and the seller will meet in a certain place at a particular time to swap documents. During the meeting, they will arrange for the payment of the purchase price balance.
What does your lender do on settlement day?
On settlement day, your lender will carry out a few critical steps such as mortgage registration on the new property’s title. They will also make available the funds for the purchase of the property. Each of these steps can affect the question of how long does it take to settle in Australia, so being prepared for this can help. Continue reading for ways to make the settlement period more efficient.

What does your solicitor or agent do on settlement day?
Your solicitor or agent will also have a few responsibilities on settlement day, such as carrying out checks on the vendor’s existing mortgage and annulling or discharging it.
They must also get rid of caveats or third party rights on the property, ensuring that sales contract clauses are established and achieved and making sure both land and mortgage transfer is appropriately registered in the title office of your territory.
The solicitor will also give you an adjustment statement for settlement, featuring the adjustments of the pre-settlement phase. Some of the adjustments of the pre-settlement phase include stamp duty or concessions related to stamp duty.
What your solicitor or conveyancer will also do is to organise any seller compensation that might have occurred if the seller has paid their bills earlier than required to ensure they are paid prior to the transfer of ownership.
These adjustments can impact how long does it take to settle in Australia.
How long does it take to settle in Australia in terms of property settlement?
Now, property settlement typically will start when the contract is signed and is completed when the ownership switches over and officially changes to the new owner. As mentioned, settlement can normally last between one and three months (an average of 30 to 90 days), however, this doesn’t mean your settlement period will definitely last this long.
Can a settlement period take longer than 90 days?
Yes. A settlement period can last longer than 90 days. In answer to the question how long does it take to settle in Australia, even though the average is between one month and three months, the period can be longer than 90 days or shorter than 30 days. This depends on different factors, and is generally stated in the contracts of sale after establishing it.
What affects the length of the settlement period in relation to how long does it take to settle in Australia?
A few critical things that may affect how long does it take to settle in Australia include the pre-settlement inspections, the review and signing process of all documents for transfer, the registering process that corresponds to ownership transfer and paying the vendor or seller.
Get a free Australian mortgage assessment today.
Which key things should I do to prepare for settlement?
When considering how long does it take to settle in Australia, there are a few things you can do to make preparations for the settlement day, such as getting in contact with a solicitor to help you through the settlement process. Other things you can do to prepare for settlement include:
- Ensuring the right date of settlement is written on the sales contract
- Preparing and ensuring the financial aspects are taken care of and that insurance for the mortgage and stamp duty fees are arranged
- Establishing insurance for building and contents and ensuring it takes effect on the date of purchase
- Carrying out a final property inspection

What is a final property inspection?
On settlement day, before you settle, it’s normally expected that the buyer is able to carry out a final property inspection. Typically, the final property inspection is carried out the previous day, prior to the settlement.
What should you look for when carrying out a final property inspection?
What you’re looking for during a final property inspection is to find that the property’s condition is equal to its state during the sale process.
To establish the condition of the property during the final property inspection, and ensure it’s in the same condition you should begin by having a look at the heating and hot water work fine, that the structure of the property, the floors and the windows are in the same condition at the time of sale, and that the locks on the doors are fully functional.
What should you look for during a final property inspection if the property is new?
Say you’re purchasing a new home–in that case you will want to check a few other factors such as the appliances when carrying out a final property inspection.
What’s more, you’ll also need to check that the work that was being done on the home has been completed, including work on the land when you carry out the final inspection.
One thing to consider is getting a building inspector to carry out some of these checks for the final inspection. Their services can help if you’re not certain how to perform these checks efficiently.
How is a final property inspection arranged?
To arrange a final property inspection, you must get in touch with the agent, who will establish the inspection for you.
Since your final property inspection can take place the day prior to settlement, or on the settlement day morning, this is another factor that can affect the question of how long does it take to settle in Australia.
How long does it take to settle in Australia: What occurs following settlement day?
Following settlement day, a few things will happen. Not only will your mortgage lender or bank provide you with the details of the settlement, but they will also send you the statement of adjustment, outlining the distribution of funds.
What your lender will also send you is the information corresponding to your home loan and the repayments you must make for your new home.
Then, it’s over to you! You’ll be able to get your hands on the keys of the new home and settle in.

Get settled in Australia and grow accustomed to your new lifestyle
An expat moving to Australia from other countries has plenty to look forward to and an exciting life. If you’re looking to purchase a property, getting a home loan, choosing between banks and lenders doesn’t have to be a nightmare. With the right support, you can arrive in the territory of your choice and begin your new life without any problems.
So, if you’re an expat hoping to settle in Australia or purchase a property, remember:
- The settlement period normally lasts between one and three months (but can take a longer or shorter time)
- Preparing for the settlement day can help to speed things up, so get your stamp duty fees established, in addition to your mortgage insurance
- Final inspection of a property is vital and, if you’re unable to do this yourself, get the right support from a building inspector
With these tips, you’ll get settled in Australia with minimal difficulty, having secured your home loan, purchase your property with ease and begin to grow accustomed to your new lifestyle.
Get a free Australian mortgage assessment today.
How Long Does It Take To Settle In Australia Frequently Asked Questions
What will occur if I miss my settlement date?
You can find yourself in a situation that’s challenging if you miss the settlement date. In this circumstance, it’s possible that you must pay interest on the amount you owe in terms of the property. The interest amount is normally 10% each year.
Can the vendor decide to change the settlement date?
Normally, vendors can change the settlement date that they agreed on when they sell their home only in scenarios where you have agreed to the new settlement date. They must provide you with notice and you are not obligated to accept the new established terms of the vendor.
Are settlement delays common and what if I need to move homes now?
In certain circumstances, it’s possible you’ll have to pay an interest penalty if you cannot move on the settlement date.
In other scenarios, you might be given a notice to complete from the seller which offers you a certain amount of time to fulfil the settlement. Later, they might revoke the contract and retain the deposit you’ve provided.
However, some settlement delays can be common. For example, in some situations you can expect a settlement delay of a few days, which happens often. There’s no need to panic if your settlement is delayed for this period.
What can cause a settlement to be delayed?
There are a few problems that can cause a settlement to be delayed in Australia. There may be issues with the final inspection, delays on the part of the seller, documentation that is incorrect, problems with selling other properties, and many others.
The best idea to prevent this is to prepare for settlement, choose the services of a reliable mortgage provider, and carry out a thorough final inspection.

See What You Qualify For
Featured In





