Saving a home deposit is one of the most significant financial challenges facing Australians today. The typical deposit required to avoid lenders mortgage insurance is 20 percent of the purchase price, a figure that has grown substantially as median property values have risen across Australian capital cities.
Average deposit sizes vary considerably by age group. Younger Australians under 35 often enter the market with smaller deposits supported by government guarantee schemes, while older buyers typically bring larger deposits accumulated through savings or equity from a previous property.
The First Home Guarantee allows eligible buyers to purchase with as little as 5 percent deposit without paying lenders mortgage insurance.
Data sourced from Australian Bureau of Statistics Housing Finance Lending Indicators and APRA Quarterly ADI Statistics. Updated quarterly.