New data suggests a hard-saving couple will need ¹4.9 years to save a deposit for a median-priced house in one of the capital cities.
ABS shows the average weekly income is ²$1,608.40
ABS shows the average price of residential dwellings in Australia is ³$679,100.
So a 20% deposit for a $679,100 property is $136,000.
How many years would it take for you to get $136,000 together?
Join industry expert Nick Lockhart, Founder of MRD Partners in the How to save for your deposit sooner, faster. Podcast, in November.
In it, you’ll learn tangible — no waffle — steps to get into property, sooner, rather than later.
How to save for your deposit sooner, faster.
Date: Thursday, 16th November
Time: 12:30pm – 1:15 pm or 7:00pm – 7:45pm
This podcast will give you:
1. Very clear tactical plans, and steps. You’ll hear 4 specific ways to get your deposit together fast (not over years) and 5 strategies to have higher cash flow once you’re a property owner.
2. Hope. Do not give up. Do not be despondent. Saving for a deposit is hard and disheartening. This podcast will get you back in the slipstream of feeling confident and on track with your goals.
3. And you’ll hear case studies, about real, live people, who created financial success by bringing their experts together. You want to know, so you can follow their footsteps.
Nick Lockhart, CEO and Founder of MRD Partners is an acclaimed keynote speaker. Nick's adult life, in one form or another, has been spent encouraging others to not run from, but to embrace the tough times as a catalyst for personal growth and success.
Nick has had a positive impact on literally tens of thousands, many of those well on their way to complete financial independence.
Nick is in his element when he is inspiring, mentoring and teaching safe and responsible finance and investment strategies.
Reference: ¹http://thenewdaily.com.au/money/property/2016/12/22/how-long-save-deposit/ ²http://www.abs.gov.au/ausstats/abs@.nsf/mf/6302.0 ³http://www.abs.gov.au/ausstats/abs@.nsf/mf/6416.0