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Aspiring homeowners need six-figure deposit to buy new home, new study shows – NEWS.com.au
Aspiring homeowners need six-figure deposit to buy new home, new study shows
Aspiring homeowners now need a whopping six-figure deposit to purchase a property, according to a new study. Finder’s First Home Buyers Report 2021 – which surveyed 1028 first-home buyers – found 11 per cent required more than a decade to scrape a deposit together.
The staggering results followed new Australian Bureau of Statistics data that showed the average deposit needed to secure a mortgage was $106,743 – an increase of 16 per cent since January 2019.
The ACT had the largest home deposit…
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