The Courier-Mail

DEPOSITS GROW

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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 report also found the average firsthome buyer put down 20 per cent of the purchase price as a deposit.

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