Yahoo Lifestyle These young Aussies need 20 years to save for a home
Younger Aussies hoping to own a home could be waiting a while, according to new research.
Video transcript
- Younger Aussies hoping to own a home could be waiting a while, according to new research. Finder Analysis found first home buyers would need at least 12 years to save a deposit for the average unit, and 16 years for the average house if they started saving today. That would mean saving $299,868 for a house deposit and $188,523 for a unit.
The research found the situation was the worst in new South Wales, where households needed on average 20 years of savings for a house deposit amounting to $470,660. Tasmania comes in a close second with households needing 17 years worth of savings for a house. That would mean having $226,098 saved up. What do you think?
