diff --git a/src/lib/schematics/install/index.ts b/src/lib/schematics/install/index.ts
index afd9cba1b37..2362cd8e054 100644
--- a/src/lib/schematics/install/index.ts
+++ b/src/lib/schematics/install/index.ts
@@ -24,7 +24,7 @@ import {getProjectStyleFile} from '../utils/project-style-file';
 import {addFontsToIndex} from './fonts/material-fonts';
 import {Schema} from './schema';
 import {addThemeToAppStyles} from './theming/theming';
-import {materialVersion, requiredAngularVersion} from './version-names';
+import {materialVersion, requiredAngularVersionRange} from './version-names';
 
 /**
  * Scaffolds the basics of a Angular Material application, this includes:
@@ -55,10 +55,10 @@ function addMaterialToPackageJson() {
     // have the same version tag if possible.
     const ngCoreVersionTag = getPackageVersionFromPackageJson(host, '@angular/core');
 
-    addPackageToPackageJson(host, 'dependencies', '@angular/cdk', materialVersion);
-    addPackageToPackageJson(host, 'dependencies', '@angular/material', materialVersion);
+    addPackageToPackageJson(host, 'dependencies', '@angular/cdk', `^${materialVersion}`);
+    addPackageToPackageJson(host, 'dependencies', '@angular/material', `^${materialVersion}`);
     addPackageToPackageJson(host, 'dependencies', '@angular/animations',
-        ngCoreVersionTag || requiredAngularVersion);
+        ngCoreVersionTag || requiredAngularVersionRange);
 
     context.addTask(new NodePackageInstallTask());
 
diff --git a/src/lib/schematics/install/version-names.ts b/src/lib/schematics/install/version-names.ts
index 94e18e76204..4c34cf83c1f 100644
--- a/src/lib/schematics/install/version-names.ts
+++ b/src/lib/schematics/install/version-names.ts
@@ -11,13 +11,16 @@ export const materialVersion =
   loadPackageVersionGracefully('@angular/cdk') ||
   loadPackageVersionGracefully('@angular/material');
 
-/** Angular version that is needed for the Material version that comes with the schematics. */
-export const requiredAngularVersion = '0.0.0-NG';
+/**
+ * Range of Angular versions that can be used together with the Angular Material version
+ * that provides these schematics.
+ */
+export const requiredAngularVersionRange = '0.0.0-NG';
 
 /** Loads the full version from the given Angular package gracefully. */
 function loadPackageVersionGracefully(packageName: string): string | null {
   try {
-    return require(packageName).VERSION.full;
+    return require(`${packageName}/package.json`).version;
   } catch {
     return null;
   }