First home buyers doing it tough to save a deposit ..

Bankwest First Time Buyer Deposit Report tracks the time it would take for first time buyers from different states to save a 20% deposit to June 2014. The information based on local incomes and local median house prices and the level of the First Home Owners Grant where available by state.

• New South Wales first time buyer couple would take 4.8 years. (In Sydney, this is at 6.7 years to save the $165,100 deposit)
• Queensland first time buyer couple would take 3.8 years (Its 4.1 years for Brisbane)

Overall, the downward trend in the number of first time home buyers continued in 2014, with 80,018 buying their first home in the 12 months to June 2014, while 90,553 bought their first home in 2013. Five years ago in 2009, there were 162,679 first time home buyers in the period to June 2009.

At Australian Property Selectors, we help first home buyers to purchase affordable investment properties first, at below market prices, generating high rental yields, and with an ‘X factor’ enabling investors to manufacture equity. This strategy can allow young investors to tap into the profits/ equity of their Investment properties, towards funding the deposit for a property in their dream suburbs.

Read the full report at http://goo.gl/FmpyNl

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