Business
Here’s how long it takes to save for a house deposit in your city – Yahoo Finance Australia
Some Australians will save for twice as long as others to own a home.
Australians who live in Sydney and Melbourne will have to save for twice as long for a house deposit than Darwin or Perth residents, new data has revealed.
According to Domains latest First-Home Buyer Report, it will take six and a half years to save for a $136,000 house deposit in Sydney, while Melbournians will be saving for six years for a $120,000 deposit.
Domains data is based on an average house deposit of 20 per cent on entry-level houses in every capital city, which are unsurprisingly …
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