First home buyers need bigger deposits

Median house prices climbed 2.7 per cent in the three months to January 2013 according to Australian Property Monitors.

Perth prices climbed 5.7 per cent to $558,416 in the 12 months of 2012, while Sydney median unit prices jumped up 5.3 per cent.

First home buyers now need to save an extra $1,430 for a 10 per cent deposit for a national median-priced house and an extra $810 for a median-priced unit.

Source: The Adviser