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Bankwest First Time Buyer Deposit Report 2016

December 2016

Introduction

The eighth annual Bankwest First Time Buyer Deposit Report tracks the time it would take for first time buyers to save a deposit in 465 local government areas (LGAs) across Australia over the five years to June 2016. The report quantifies how long it would take a first time buyer to save a 20% deposit based on local incomes and local house prices and the level of the First Home Owners Grant, where available, by state. Data has been sourced from the Australian Bureau of Statistics (ABS) 2011 Census, the ABS Wage Price Index, the Reserve Bank of Australia (RBA) and Residex.

Deposit savings times have been calculated on the basis of a first time buyer couple setting aside 20% of their combined pre-tax income annually. The calculation assumes the savings are deposited into an online savings account each month and earn interest on this basis.

This research was prepared by CoreData for Bankwest.

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There are less than half as many first time buyers (FTBs) in Australia in 2016 (13.4%) as a proportion of total buyers than in 2009 (28.8%), as house price growth outstrips wage growth, locking many FTBs out of the market.It is taking Australian FTB couples longer to save a deposit on a median priced house in every state and territory except WA compared to last year.Australian FTB couples need to save for an average of 4.4 years for a deposit on a median priced house, on par with 4.2 years in the 12 months to June 2015.In Sydney, FTB couples need to save for an average of 8.4 years for a deposit on a median priced house, six months longer than last year and the longest required savings time nationwide.

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First time buyer deposit trends by state

ABS 6345 Wage Price Index data, June, 2016 (editor’s notes for more details on calculation)

Australian FTB couples need to save for 4.4 years for a median priced houseThe eighth Bankwest First Time Buyer Report reveals that the average Australian FTB couple requires 4.4 years to raise a 20% deposit to buy a median priced house, two months longer than last year. This is based on an average combined salary of $116,072 for two people aged 25-34, saving 20% of their pre-tax income in a high interest online savings account.

Australian FTB couples need an average of $103,600 in savings to put down a deposit on their first house in 2016, based on a median house value of $518,000 nationally. Although Australia’s median house value grew by 3.9% in the 12 months to June 2016, this was slower than 2015’s growth of 6.3%. Furthermore, variable-lending rates on owner-occupier housing loans have continued to fall to 5.25% and are notably lower than the 10-year average rate of 6.93%.

A lower housing mortgage rate allows prospective home owners to service their loan quicker, increasing the attractiveness of buying a home. However, a lower loan rate generally goes hand in hand with a lower return on savings accounts, which could negatively influence the home buying decision.

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Residex: Median Value and Sale Count Data, ending June 30 2016 RBA Indicator Lending Rates, August 2016 3

State

Years to save 20% house

deposit (June 2016)

Years to save 20% house deposit

(June 2015)


deposit (June 2011)

Change over 1 year

Change over 5 years

Savings needed for 20% house

deposit (June 2016)

ACT Houses 4.3 4.1 4.3 0.2 0.0 $117,600 NSW Houses 5.7 5.3 4.3 0.4 1.4 $138,600 NT Houses 4.3 3.4 4.4 0.9 -0.1 $102,000 QLD Houses 4.0 3.9 3.9 0.1 0.1 $92,800 SA Houses 3.6 3.3 3.7 0.3 -0.1 $78,700 TAS Houses 2.8 2.8 3.0 0.0 -0.2 $57,200 VIC Houses 4.7 4.4 4.4 0.3 0.3 $108,900 WA Houses 3.5 3.6 3.7 -0.1 -0.2 $94,400 Australian Houses 4.4 4.2 3.9 0.2 0.5 $103,600

House

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The average online savings account rate over the last 12 months is 1.78% , do4 wn from 2.31% the previous year and well below the 10-year average of 4.16%. A lower savings rate increases the time needed to reach the required deposit amount, illustrating the countervailing influences that interest rates have on first time buyers.

NSW takes out the unenviable title of the state in which it takes longest to save the deposit required for a median priced house, with the average FTB couple requiring 5.7 years to save $138,600. This is an increase of five months compared with last year and is the second largest increase nationwide behind the Northern Territory.

Victoria comes in second, with an average savings time of 4.7 years, up slightly from 4.4 years in 2015.

It takes more than four years for the average FTB couple to save for a deposit in both of the territories, with the average ACT and Northern Territory FTB couple requiring 4.3 years to save, compared with 4.1 years and 3.4 years respectively in 2015. The required savings time for a deposit on a median priced house is shortest for Tasmanian FTB couples (2.8 years, unchanged compared with 2015).

The savings time required for the average FTB couple in the Northern Territory increased by almost a year (0.9 years) in the 12 months to June 2016, to 4.3 years from 3.4 years in 2015.

The primary driver of the increase was the removal of the First Home Owner’s Grant for established homes in early 2015, which meant Northern Territory FTB couples no longer had access to the grant of between $12,000 and $25,000 for homes valued under $600,000.

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Housing sales in the Northern Territory fell by 43.0% over the 12 months to June 2016 , while non FTB housing sales fell by only 5.3% over the same period, suggesting that FTBs are feeling the pinch of the removal of the grant.

First time buyer deposit trends in capital cities

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5 RBA Retail Deposit and Interest Rates, August 2016-11-15

ABS 5609: 12 Month weighted average of FTB housing sales to June 2016

FTB couples in Sydney need to save for more than eight years for first houseOverall, the average savings time required for an FTB couple to buy a median priced house in the capital cities has increased to 4.9 years from 4.5 years in 2015. The average required savings time has increased in all capital cities to varying degrees, except in Perth, where it remains unchanged.

It now takes the average Sydney FTB couple 8.4 years to save a $214,600 deposit on a median priced house, up from 7.9 years in 2015. This is largely driven by an 8.0% increase in the median house value in Sydney of $79,500 for the 12 months to June 2016, with wage growth failing to keep up at 2.2% - the6 lowest growth rate in five years.

ABS 6345 Wage Price Index6

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)

Change over 1 year

Change over 5 years


deposit (June 2016)

Adelaide Houses 4.0 3.6 4.0 0.4 0.0 $88,500 Australian Capital Territory Houses 4.3 4.1 4.3 0.2 0.0 $117,600

Brisbane Houses 4.3 4.1 4.1 0.2 0.2 $101,800 Darwin Houses 4.3 3.6 4.5 0.7 -0.2 $106,700 Hobart Houses 3.8 3.4 3.7 0.4 0.1 $78,100 Melbourne Houses 6.2 5.8 5.4 0.4 0.8 $148,600 Perth Houses 3.8 3.8 3.9 0.0 -0.1 $101,300 Sydney Houses 8.4 7.9 5.8 0.5 2.6 $214,600 Capital cities average 4.9 4.5 4.5 0.4 0.4 $119,650

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House

House

LGA Name


deposit (June 2016)


deposit (June 2015)


(June 2011) Region State

Savings needed for 20% house deposit

(June 2016)

Peppermint Grove 19.7 20.2 20.3 Perth WA $686,300 Strathfield 17.9 16.2 11.1 Sydney NSW $410,800 Mosman 17.4 16.3 13.6 Sydney NSW $613,000 Woollahra 16.9 14.8 12.2 Sydney NSW $595,600 Waverley 15.9 14.2 11.3 Sydney NSW $492,700 Burwood 15.2 13.2 8.9 Sydney NSW $336,900 Hunters Hill 15.2 13.3 10.7 Sydney NSW $509,800 Manly 14.4 12.9 10.5 Sydney NSW $438,900 Willoughby 14.4 12.9 9.5 Sydney NSW $450,900 Boroondara 14.1 12.7 10.0 Melbourne VIC $387,200

Melbourne trails Sydney, with the average required savings time for FTB couples sitting at 6.2 years, up slightly from 5.8 years in 2015. Hobart and Perth are the capital cities with the shortest time needed for first time buyer couples to save for a deposit on a median priced home (both 3.8 years), although savings time in Hobart has increased slightly from 3.4 years in 2015.

The extent of Sydney’s residential property market growth is illustrated by the fact that most (53%) Local Government Areas (LGAs) now require the average FTB couple to save for more than 10 years for a deposit on a median priced house, up from 44% in 2015. This proportion is also considerably higher than in Melbourne, where only 16% of LGAs require the average FTB couple to save for more than 10 years.

At the other extreme, Perth is the only capital city where the average required savings time for a house has not increased year-on-year (3.8 years, unchanged compared with last year), likely driven by a $19,000 fall in the median house value in 2016. The stark differences between the capital cities illustrate the two-speed nature of Australia’s economy and its effect on property prices and housing affordability.

Top 10 Australian LGAs where it takes the most time to save a house deposit

Peppermint Grove holds onto title as the LGA nationwide where it takes longest to save for a housePeppermint Grove in Western Australia remains the LGA in which it takes the average FTB couple longest to save for a deposit on a median priced house (19.7 years). However, this is down from 20.2 years in 2015, likely driven by a decline in the median house value in the area, which fell by 4.5% in the year to June 2016. Peppermint Grove is the only LGA of the 10 requiring the longest to save for a house deposit where this is true. In contrast, the nine other LGAs have seen the average median house value increase 12.4% over the same period.

Strathfield (17.9 years for a required $410,800 deposit) and Mosman (17.4 years for a required $613,000 deposit) round out the top three LGAs in which it takes FTB couples longest to save for a deposit on a median priced house.

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)

Region State


deposit (June 2016)

Paroo Shire 0.5 0.8 0.4 South West QLD $8,500 West Coast Council 0.5 0.7 0.4 Mersey-Lyell TAS $13,000 Central Darling 0.6 0.7 0.2 Far West NSW $13,300 Coolgardie 0.7 0.8 0.7 South Eastern WA $23,600 Isaac Regional 0.7 1.5 2.5 Central QLD $26,400 Coober Pedy 0.9 1.2 1.0 Northern SA $17,500 Urana 0.9 1.0 0.6 Murray NSW $18,100 Broken Hill 1.0 1.2 1.1 Far West NSW $22,100 Peterborough 1.0 1.2 1.0 Northern SA $16,700 Flinders Shire 1.0 1.2 0.9 North West QLD $23,500

Top 10 Australian LGAs where it takes the least time to save a house deposit

House

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Regional and rural LGAs offer easier pathway to first home The number of LGAs in Australia in which it takes the average FTB couple less than two years to save for a house deposit has remained stable at 21.1%. Compared with last year, Queensland has four extra LGAs where this is the case, while NSW has lost two LGAs in this cohort and South Australia has gained one.

Nationwide, close to three in 10 (30.3%) LGAs (141 out of 465) require the average FTB couple to save for more than four years for a deposit on a median priced house. Of these 141 LGAs, 111 are located in the capital cities. Furthermore, only 22.4% of LGAs in capital cities require a savings time of less than four years, down from 25.9% in the 12 months to June 2015. These findings suggest that regional and rural areas offer FTBs an easier route into the property market.

Paroo Shire in South West Queensland takes the mantle as the LGA requiring the shortest time for FTB couples, taking just 0.5 years or six months, down slightly from 0.8 years in 2015. The median house price in Paroo Shire fell by $30,000 in 2016 to $42,500, making it the easiest property market for FTB couples to enter, with only $8,500 required for a 20% deposit.

Paroo Shire is followed closely by West Coast Council in Tasmania (0.5 years for a required deposit of $13,000) and Central Darling in far western NSW (0.6 years for a required deposit of $13,300).

Two new LGAs entered the list of top 10 LGAs where it takes the shortest time to save, with seven of the eight LGAs reappearing from last year’s list showing a decrease in the required savings time for a deposit on a median priced house. In contrast, nine of the top 10 LGAs where it takes the longest time to save have experienced an increase in the required savings time compared with last year.

Annual number of First Time Buyers, Australia (2006-2016)200000

180000

160000

140000

120000

100000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

House

First Home Buyers as % of total dwellings purchased, Australia (2006-2016)

Source: ABS

7FTBs as a proportion of total dwelling sales in steady decline since 2009 peakThe number of FTBs in Australia has declined over the last 12 months, to 90,939 in the year to June 2016 from 94,517 the previous 12 months, driven by the removal of the First Home Owners' Grant for established homes by some state governments, coupled with rising property prices.

Looking at total dwellings financed, there has been a steady decline in the proportion of FTBs in Australia since the 2009 peak. There are less than half as many FTBs as a proportion of total buyers in 2016 than there were in 2009, with FTBs now making up just 13.4% of the market, down from 28.8% five years ago. This trend can largely be explained by the removal of the Commonwealth Government’s $7,000 First Home Owners’ Grant in 2009, as well as rising property prices.

7 ABS 5609

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0%

5%

10%

15%

20%

25%

30%

35%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Unit

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On average, it takes 3.5 years for FTB couples to save a 20% deposit on a median priced unit in Australian capital cities, on par with 2015 (3.3 years).The market for units is more accessible than the housing market. It takes 1.4 years longer to save for a house compared to a unit in Australian capital cities – an increase compared to 2015 (1.2 years).FTB couples in Sydney need to save for 5.6 years for a deposit on a median priced unit, the longest savings time nationwide.

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LGA Name

Years to save 20% unit deposit

(June 2016)


(June 2015)


(June 2011)

Change over 1 yr

Change over 5 years

Savings needed for 20% unit deposit

(June 2016)

Adelaide Units 2.9 2.7 2.8 0.2 0.0 $63,300 ACT Units 3.0 3.0 3.1 0.0 -0.1 $81,400 Brisbane Units 3.3 3.2 3.1 0.1 0.2 $77,300 Darwin Units 3.1 2.3 3.3 0.8 -0.2 $76,300 Hobart Units 2.7 2.4 2.6 0.3 0.1 $54,800 Melbourne Units 4.3 4.1 3.9 0.2 0.4 $101,300 Perth Units 3.2 3.4 3.0 -0.2 0.2 $85,600 Sydney Units 5.6 5.3 4.0 0.3 1.6 $140,800 Capital city average 3.5 3.3 3.2 0.2 0.3 $85,100

First time buyer deposit trends in capital cities (units)

It takes three years less to save for a Sydney unit than a Sydney houseOn average, an Australian FTB couple looking to purchase a median priced unit in the capital cities would need to save 20% of their combined income for 3.5 years for an $85,100 deposit, on par with 2015 (3.3 years).

Sales for units increased by 5.4%, while house sales increased just 0.8% in the 12 months to June 2016. Although these figures represent all purchases of dwellings (not just FTBs), it reflects the nationwide trend towards medium density housing, as noted in the 2016 Bankwest Housing Density Report, and a growing preference for units among FTBs, as units provide quicker access to the property ladder.

Across the capital cities, the average median value for units rose by 0.8% year-on-year, while the average wage increased by 2.1% over the same period. Despite this, there has not been a reduction in the required deposit savings time for FTB couples, likely due to the removal of the First Home Owners’ Grant in the Northern Territory and Western Australia.

On average, FTB couples in Sydney would need to save for 5.6 years for a deposit on a median priced unit, the longest required time nationwide. Melbourne comes in second, with couples needing 4.3 years to save for their first unit, followed by Brisbane (3.3 years), Perth (3.2 years), Darwin (3.1 years), Canberra (3.0 years) and Hobart (2.7 years).

Residex Housing & Units data to June 2016

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Unit

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LGA Name


(June 2016)


(June 2015)


(June 2011)

Region State Savings needed for

20% unit deposit (June 2016)

Manly 8.3 7.4 5.7 Sydney NSW $218,800 Burwood 7.5 6.9 4.9 Sydney NSW $158,900 Sydney 7.1 6.6 5.0 Sydney NSW $166,500 Byron 7.0 6.3 6.0 Richmond-Tweed NSW $109,000 Woollahra 6.8 6.0 4.7 Sydney NSW $226,400 Waverley 6.6 6.1 4.8 Sydney NSW $193,800 Pittwater 6.4 5.7 4.8 Sydney NSW $165,100 Randwick 6.3 5.8 4.5 Sydney NSW $172,900 Ashfield 6.1 5.8 4.2 Sydney NSW $137,900 Canada Bay 6.0 5.6 4.5 Sydney NSW $176,600

Sydney dominates top 10 LGAs with the longest required savings time for unitsAs in 2015, Sydney takes nine of the top 10 LGAs with the longest required savings time for a median priced unit, with the other LGA being Byron in northern NSW. Each of the top 10 LGAs has seen a year-on-year increase in the required savings time, with Manly having the greatest increase, to 8.3 years from 7.4 years in 2015 followed closely by Woollahra, which rose to 6.8 years from 6.0 years in 2015.

LGA Name

Years to save 20%

unit deposit (June 2016)


(June 2015)


(June 2011)



Latrobe 1.4 1.4 1.4 Mersey-Lyell VIC $33,200 Glenelg 1.4 1.4 1.6 Western District VIC $30,400 Muswellbrook 1.5 1.5 1.3 Hunter NSW $43,600 Central Highlands Regional 1.5 1.9 1.8 Darling Downs QLD $47,800

South Burnett Regional 1.5 1.6 1.4 Wide Bay-Burnett QLD $32,200 Kalgoorlie-Boulder 1.6 1.5 1.5 South Eastern WA $48,900 Deniliquin 1.6 1.7 1.4 Murray NSW $32,000 Kwinana 1.6 1.6 1.6 Perth WA $42,500 Burnie City Council 1.7 1.8 1.6 Mersey-Lyell TAS $34,500 Cowra1 1.7 - 1.3 Central West NSW $30,800

Top 10 Australian LGAs where it takes the least time for FTB couples to save a unit deposit

9 Cowra not included in 2015 report due to low sample size in Residex data for 2015 unit values

Darwin has experienced the greatest year-on-year increase in required savings time for a median priced unit (3.1 years vs. 2.3 years), influenced by the removal of the First Home Owners’ Grant in the NT, followed by Sydney (5.6 years vs. 5.3 years) and Hobart (2.7 years vs. 2.4 years). Over five years, however, Sydney leads the way with the biggest increase in required savings time (5.6 years vs. 4.0 years), while Darwin and Hobart have remained largely steady over this period.

Despite the increases, it now takes 1.4 years longer to save for a median priced house than a unit in Australian capital cities, compared with 1.2 years in 2015. In Sydney, it takes nearly three years longer (2.8 years) for an FTB couple to save for a median priced house than for a median priced unit, on par with 2.6 years in 2015.

Top 10 Australian LGAs where it takes the most time for FTB couples to save a unit deposit

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UnitLatrobe is the Australian LGA with the shortest required savings time for a unitAcross all LGAs in Australia, the shortest required time to save for a unit deposit is in Latrobe in the Mersey-Lyell region in Victoria. FTB couples in Latrobe need only save for an average of 1.4 years for a $33,200 deposit on a median priced unit.

Latrobe is closely followed by Glenelg in Victoria (1.4 years for a required deposit of $30,400) and Muswellbrook in NSW’s Hunter region (1.5 years for a required deposit of $43,600). Overall, the required savings time in each of the 10 LGAs where it takes the shortest time to save for a unit deposit is largely unchanged compared with last year, with the only exception being Central Highlands Regional in Queensland, where saving time has fallen slightly to 1.5 years for a required deposit of $47,800 from 1.9 years in 2015.

3. NSW Deposit Trends

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• NSW FTB couples have to save for an average of 5.7 years for a deposit on a median priced house, up slightly from 5.3 years in 2015 and well above the national average of 4.4 years.Savings time rises considerably to an average of 8.4 years for a median priced house in Sydney, up from 7.9 years in 2015.The savings time of 8.4 years in the capital city is also notably higher than the average required savings time for a median priced unit in Sydney of 5.6 years (5.3 years in 2015).All Sydney LGAs require FTB couples to save for longer than four years for a house deposit, while more than half (53%) of LGAs require longer than 10 years to save.

FTBs in NSW are facing the most competitive property market in Australia, with the NSW median house value increasing by 8.2% in 2016 and average wages for 25-34 year olds only growing by 2.2% over the same period. With property value growth exceeding wage growth, it is taking longer for FTBs in NSW, particularly those in Sydney, to enter the property market.

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NSW

Strathfield overtakes Mosman for title of NSW LGA with longest required savings time for a houseAt the top end, Sydney’s housing market has continued its incredible growth, with the required savings times in the top 10 LGAs where it takes longest for an FTB couple to save a 20% house deposit rising by an average of 1.6 years compared with last year.

Strathfield has overtaken Mosman as the LGA with the longest required savings time for a deposit on a median priced house. The average FTB couple in Strathfield needs 17.9 years to save the required $410,800 deposit on a median priced house. This is up from 16.2 years in 2015, likely driven by a 10.3% increase in the median house value in Strathfield in 2016.

Although Mosman has lost its poll position, it still requires the largest deposit of $613,000 for a median priced house. Mosman has also seen a year-on-year increase in the required savings time to 17.4 years, from 16.3 years in 2015.

Woollahra rounds out the top three NSW LGAs where it takes the most time for an FTB couple to save a 20% deposit, with the required savings time for a $595,600 deposit on a median priced house rising to 16.9 years from 14.8 years in 2015.

Randwick is the only new entrant into the top 10 list compared to 2015. Randwick saw its median house value rise by 13.3% in the year to June 2016, meaning the required savings time has increased to 13.7 years from 12.2 years in 2015.

Randwick replaces Ashfield, which has slipped out of the top 10 despite the median house value in Ashfield rising by 8.2% in 2016. Ashfield’s experience demonstrates the widespread strength of Sydney’s property market, with property prices rising across the board.

The required time to save for a deposit on a median priced house has increased for 72% of NSW LGAs over the last year, while over a five-year horizon, the time to save for a house deposit has increased for 97% of NSW LGAs.

Longer than ever before for Sydney FTBs to save house deposit as median value tops $1mIn 2016, Sydney FTB couples need to save for an average of 8.3 years to put down a 20% deposit on a median priced house worth $1,073,000. Compared to 2015, this represents an increase of six months in the required savings time and compared to two years ago, Sydney FTB couples now need 1.7 years longer to save the hefty $214,600 deposit to purchase a median priced house.

The median house value in Sydney rose above the $1 million mark for the first time in 2016, and with wage growth failing to keep up, it is unsurprising that it is getting more difficult to enter the Sydney property market for FTBs.

Top 10 NSW LGAs where it takes the most time for FTB couples to save a house deposit

NSW

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LGA Name Years to save house deposit

(June 2016)

Years to save house deposit

(June 2015)



Savings needed for 20% house deposit (June 2016)

Strathfield 17.9 16.2 11.1 Sydney NSW $410,800 Mosman 17.4 16.3 13.6 Sydney NSW $613,000 Woollahra 16.9 14.8 12.2 Sydney NSW $595,600 Waverley 15.9 14.2 11.3 Sydney NSW $492,700 Burwood 15.2 13.2 8.9 Sydney NSW $336,900 Hunters Hill 15.2 13.3 10.7 Sydney NSW $509,800 Manly 14.4 12.9 10.5 Sydney NSW $438,900 Willoughby 14.4 12.9 9.5 Sydney NSW $450,900 Randwick 13.7 12.2 9.6 Sydney NSW $392,900 Lane Cove 13.4 12.3 8.9 Sydney NSW $440,000

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NSW

LGA Name Years to save house deposit

(June 2016)


(June 2015)




deposit (June 2016)

Central Darling 0.6 0.7 0.2 Far West NSW $13,300 Urana 0.9 1.0 0.6 Murray NSW $18,100 Broken Hill 1.0 1.2 1.1 Far West NSW $22,100 Coonamble 1.2 1.2 0.8 North Western NSW $23,300 Brewarrina 1.2 1.3 0.7 Far West NSW $20,900 Bogan 1.2 1.2 1.0 North Western NSW $28,700 Bourke 1.3 1.4 0.7 North Western NSW $27,800 Bland 1.3 1.3 1.1 Central West NSW $28,500 Carrathool 1.4 1.4 1.0 Murrumbidgee NSW $24,800 Cobar 1.4 1.6 1.3 North Western NSW $40,700

Top 10 NSW LGAs where it takes the least time for FTB couples to save a house deposit

Savings time for NSW regional and rural houses staticAt the other end of the housing market in NSW, Central Darling in the state’s far west provides NSW FTBs with their quickest avenue to purchasing their first home. Purchasing a house in the Central Darling LGA only requires an average of 0.6 years, or around seven months, of saving to raise the required $13,300 deposit.

Central Darling is followed by Urana (0.9 years for a required $18,100 deposit) and Broken Hill (1.0 year for a required $22,100 deposit).

Eight of the 10 LGAs in NSW where it takes the least amount of time to save also featured in last year’s list. The required savings time for a deposit on a median priced house in each of the LGAs on this list is also largely in line with 2015. The gap between the shortest and the longest required savings times has widened in NSW, with rural and regional areas offering much quicker avenues into the property market for NSW FTBs.

Unit savings time in Sydney continues to increaseFor Sydney FTBs wishing to purchase a unit, it now takes an average of 5.6 years to save for a deposit on a median priced unit, up slightly from 5.3 years in 2015. However, units offer Sydney FTBs an easier route into their first home, with the savings time required for a deposit on a median priced unit on average 2.8 years shorter than for a deposit on a median priced house.

Across NSW, FTB couples looking to buy a unit must save for an average of 5.3 years, up slightly from 4.9 years in 2015. This increase has been driven largely by the high performing apartment market in Sydney, as well as unit valuations in Byron Bay appreciating by 13% in the 12 months to June 2016.

Top 10 Sydney LGAs where it takes the most time for FTB couples to save a unit deposit

LGA Name Years to save unit deposit (June 2016)

Years to save unit deposit

(June 2015)

Years to save unit deposit (June 2011)

Region State

Savings needed for 20% unit

deposit (June 2016)

Manly 8.3 7.4 5.7 Sydney NSW $218,800 Burwood 7.5 6.9 4.9 Sydney NSW $158,900 Sydney 7.1 6.6 5.0 Sydney NSW $166,500 Woollahra 6.8 6.0 4.7 Sydney NSW $226,400 Waverley 6.6 6.1 4.8 Sydney NSW $193,800 Pittwater 6.4 5.7 4.8 Sydney NSW $165,100 Randwick 6.3 5.8 4.5 Sydney NSW $172,900 Ashfield 6.1 5.8 4.2 Sydney NSW $137,900 Canada Bay 6.0 5.6 4.5 Sydney NSW $176,600 Strathfield 5.9 5.8 4.1 Sydney NSW $127,200

NSW

14

Manly tops the list of longest required savings time for units in Sydney and nationwideSydney FTB couples wanting to buy a median priced unit in Manly require an average of 8 years to save the $218,800 deposit. This is the longest required savings time for a median priced unit across NSW and nation-wide.

Manly is followed by Burwood (7.5 years for a required $158,900 deposit) and Sydney CBD (7.1 years for a required $166,500 deposit).

Most LGAs within the Sydney region making up the top 10 have seen notable year-on-year increases in the time required to save for a median priced unit, with an average increase of six months.

Top 10 Sydney LGAs where it takes the least time for FTB couples to save a unit deposit

Sydney unit market rising across the boardWollondilly provides Sydney FTBs with their fastest avenue to purchasing a unit. Purchasing a unit in this LGA requires an average of 3.4 years of savings to raise the required $83,000 deposit. Wollondilly is followed by Wyong (3.5 years for a required $75,000 deposit) and Camden (3.6 years for a required $92,500 deposit).

Interestingly, even the bottom end of the Sydney market has seen slight year-on-year increases in the required savings time for a median priced unit. This reflects the widespread strength of Sydney’s property market, with an average increase of 52.7% in the median unit value across the 10 LGAs where it takes the least time to save for a 20% unit deposit over the last five years.

Annual number of First Time Buyers, New South Wales (2006- 2016)

Source: ABS

LGA Name Years to save unit deposit (June 2016)



Region State


deposit (June 2016)

Wollondilly 3.4 3.1 2.1 Sydney NSW $83,000 Wyong 3.5 3.1 2.4 Sydney NSW $75,000 Camden 3.6 3.2 2.4 Sydney NSW $92,500 Campbelltown 3.6 3.3 2.2 Sydney NSW $81,200 Penrith 3.7 3.3 2.3 Sydney NSW $87,800 Fairfield 3.8 3.7 2.4 Sydney NSW $84,000 Hawkesbury 3.9 3.5 2.6 Sydney NSW $91,700 Blue Mountains 4.0 3.6 2.8 Sydney NSW $92,400 Gosford 4.1 3.6 2.8 Sydney NSW $92,700 Blacktown 4.2 3.9 2.6 Sydney NSW $97,800

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NSW

15

NSW FTBs being locked out of the marketThe number of FTBs in NSW has decreased to 17,590 in 2016 from 18,943 in 2015, a 7.1% decline. FTBs now only account for 8.3% of dwellings purchased in NSW, down from 10.4% in 2015.

2011 Census data reveals NSW’s proportion of residents aged between 20-34 is 21.1% . If we infer the age of people between 15-29 to represent our current 20-34 year old 2016 sample, the proportion of 20-34 year olds currently would be 20.6%, a decline of 36,534 within our FTB bracket in NSW.

Although changing NSW age demographic may explain some of the difference, FTBs are finding it harder to enter the NSW property market, with strong property price growth across the state, outpacing average wage growth.

•

•

Victorian FTB couples need to save for an average of 4.7 years to raise a deposit on a median priced house, up slightly from 4.4 years in 2015.Melbourne FTB couples need to save for an average of 6.2 years to raise a deposit on a median priced house, up slightly from 5.8 years in 2015.While the number of FTBs in the market rose in Melbourne by 3.6% in the 12 months to June 2016, the proportion of FTBs in the market decreased to 14.9% - half the early 2010 peak of 29.5%.More than half (52%) of Melbourne LGAs require FTBs to save for more than six years for a deposit on a median priced house.

•

4. Victorian Deposit Trends

•

The average FTB couple in Victoria would need 4.7 years to save the initial $108,900 required for a deposit on a median priced house. Victoria has the second longest average required savings time of all states and territories in Australia, behind only NSW. Savings time has increased slightly from 4.4 years in 2015, as the growth in median house value of 7.2% over the last year outpaces the growth in average wages of 2.3% during the same period.

VIC

16

VIC

17

Melbourne LGAs dominate list of Victorian LGAs with longest savings time for a houseThe list of top 10 Victorian LGAs requiring the longest savings time for a deposit on a median priced house is dominated by inner city Melbourne LGAs, similar to the 2015 results.

Boorondara tops the list, with an average required savings time of 14.1 years for a deposit of $387,200, followed by Stonnington (12.9 years for a required $365,900 deposit) and Bayside (11.2 years for a required $323,800 deposit). Each of the top 10 Victorian LGAs has experienced a year-on-year increase in the average required savings time, particularly Bayside (11.2 years vs. 9.5 years).

Melbourne has second longest required savings time for a house depositMelbourne FTB couples need to save for an average of 6.2 years for the $148,600 required for an initial 20% deposit on a median priced house, an extra 0.4 years or five months compared with 2015. This has been driven by an 8.9% increase in the median house value in Melbourne - the largest proportional increase in any capital city for 2016.

However, while average wage growth in Melbourne has been the highest of any capital city (2.3%), it still lags the growth in median house value, leading to an increase in the average required savings time for FTB couples.

Top 10 Victorian LGAs where it takes the most time for FTB couples to save a house deposit

Top 10 Victorian LGAs where it takes the least time for FTB couples to save a house deposit

LGA Name


deposit (June 2016)


deposit (June 2015)




deposit (June 2016)

Boroondara 14.1 12.7 10.0 Melbourne VIC $387,200 Stonnington 12.9 11.2 10.9 Melbourne VIC $365,900 Bayside 11.2 9.5 8.0 Melbourne VIC $323,800 Glen Eira 10.6 9.4 8.2 Melbourne VIC $262,300 Port Phillip 10.3 8.9 8.5 Melbourne VIC $294,000 Monash 9.3 8.3 6.2 Melbourne VIC $213,400 Yarra 8.7 8.1 7.2 Melbourne VIC $236,200 Melbourne 8.7 7.9 8.2 Melbourne VIC $215,500 Manningham 8.6 7.7 6.0 Melbourne VIC $224,500 Whitehorse 8.4 7.6 6.4 Melbourne VIC $203,600

LGA Name Years to save 20%

house deposit (June 2016)


deposit (June 2015)


deposit (June 2011)

Region State Savings needed for 20%

house deposit (June 2016)

Hindmarsh 1.1 1.2 1.0 Wimmera VIC $20,600 Buloke 1.1 1.3 0.9 Mallee VIC $22,900 West Wimmera 1.4 1.3 1.1 Wimmera VIC $22,600 Gannawarra 1.7 1.8 1.6 Mallee VIC $32,400 Northern Grampians 1.8 1.7 1.6 Wimmera VIC $34,600 Loddon 1.8 1.8 1.3 Loddon VIC $32,600 Latrobe 1.8 1.8 1.7 Mersey-Lyell VIC $43,900 Glenelg 1.9 1.8 1.9 Western District VIC $41,100 Ararat 2.0 2.1 1.8 Central Highlands VIC $37,900 Southern Grampians 2.0 2.0 1.9 Western District VIC $39,600

VIC

Hindmarsh requires smallest house deposit in VictoriaThe shire of Hindmarsh, located in Victoria’s Western Wimmera region, requires local FTB couples to save for an average of just 1.1 years for the required $20,600 deposit on a median priced house. The LGAs with the next shortest savings times are Buloke (1.1 years for a required $22,900 deposit) and West Wimmera (1.4 years for a required $22,600 deposit).

Four of the 10 Victorian LGAs with the least time to save a 20% house deposit have seen a year-on-year reduction in average required savings time while three have experienced increases. The remaining LGAs in the bottom 10 are on par with last year.

Within Victoria, 81% of LGAs saw a rise in the average savings time required for a deposit on a median priced house compared to the previous year. The proportion of LGAs where the average required savings time exceeds four years has also increased to 41% from 34% during the 12 months to June 2016. Looking over a five-year horizon, 97% of Victorian LGAs have experienced an increase in average savings time.

Top 10 Melbourne LGAs where it takes the most time for FTB couples to save a unit deposit

Monash tops the list of LGAs with longest required savings time for units in MelbourneIt takes an average Melbourne FTB couple 5.7 years to raise the $128,700 needed for a deposit on a median priced unit in Monash. This is the longest savings time for units in Melbourne and up from 5.2 years in 2015. The increase is largely due to the median unit value in the area rising by 11.4% for the 12 months to June 2016 - the largest increase of all Melbourne LGAs in the top 10.

Monash is followed by Bayside (5.3 years for a required $148,900 deposit) and Whitehorse (5.2 years for a required $123,200 deposit) as the LGAs with the second and third longest savings time for a unit deposit in Melbourne.

Top 10 Melbourne LGAs where it takes least time for FTB couples to save a unit deposit

18

LGA Name


(June 2016)


(June 2015)


(June 2011)



Monash 5.7 5.2 4.6 Melbourne VIC $128,700 Bayside 5.3 5.0 4.4 Melbourne VIC $148,900 Whitehorse 5.2 4.9 4.3 Melbourne VIC $123,200 Boroondara 5.1 4.9 4.5 Melbourne VIC $133,900 Manningham 4.9 4.6 4.1 Melbourne VIC $124,500 Glen Eira 4.9 4.6 4.5 Melbourne VIC $117,100 Banyule 4.4 4.1 3.8 Melbourne VIC $108,600 Melbourne 4.2 4.2 4.5 Melbourne VIC $101,600 Yarra 4.2 4.2 4.1 Melbourne VIC $110,000 Stonnington 4.2 4.2 4.4 Melbourne VIC $112,500

LGA Name Years to save



(June 2015)


(June 2011)



Melton 2.4 2.3 2.3 Melbourne VIC $53,900 Cardinia 2.5 2.5 2.4 Melbourne VIC $56,400 Wyndham 2.6 2.4 2.3 Melbourne VIC $61,300 Frankston 2.9 2.8 2.7 Melbourne VIC $64,100 Hume 2.9 2.9 2.8 Melbourne VIC $64,300 Casey 2.9 2.8 2.7 Melbourne VIC $64,700 Whittlesea 3.0 2.9 2.9 Melbourne VIC $68,500 Brimbank 3.1 2.9 2.9 Melbourne VIC $66,100 Greater Dandenong 3.6 3.3 3.2 Melbourne VIC $68,600 Mornington Peninsula 3.6 3.4 3.3 Melbourne VIC $79,400

19

VIC

Melton provides fastest pathway into Melbourne’s units marketMelbourne FTB couples need an average of 2.4 years to save a $53,900 deposit on a median priced unit in Melton, the lowest required savings times in the city. Other accessible LGAs for FTBs include Cardinia (2.5 years for a required $56,400 deposit) and Wyndham (2.6 years for a required $61,300 deposit).

Annual number of First Time Buyers, Victoria (2006-2016)

Proportion of Victorian FTBs half the 2010 peakThe number of FTBs in Victoria has risen by 3.6% in the 12 months to June 2016, while the number of non-first time buyers has increased by 16.3%. The percentage of FTBs in the Melbourne market decreased to 14.9% from 16.4% over the last year and is considerably lower than the early 2010 peak of 29.5%. Low interest rates have seen dwellings sales increase for both FTBs and non-first time buyers, with non-first time buyers entering at a much faster rate.

Source: ABS

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Queensland FTBs need to save for an average of 4.0 years for a deposit on a median priced house, on par with 3.9 years in 2015 but below the national average of 4.4 years.Brisbane FTBs need to save for an average of 4.3 years for a deposit on a median priced house, in line with 2015 (4.1 years).Queensland is one of the most accessible states for FTBs, with one in three Queensland LGAs requiring less than two years to save for a median priced unit, the highest proportion of any state.

•

QLD

5. Queensland Deposit Trends

The average FTB couple in Queensland need to save for 4.0 years to raise a $92,800 deposit for a median priced house, on par with 2015 (3.9 years). The median house value in the state has risen by 4.3%, exceeding the average wage growth of 1.9% for the 12 months to June 2016. However, over a five-year horizon, average wage growth has marginally outpaced median house value growth (14.4% vs. 13.6%).

Brisbane FTB couples require an average of 4.3 years to raise a deposit on a median priced house in Brisbane worth $509,000, in line with 2015 (4.1 years).

20

QLD

21

Queensland is one of the most accessible states for houses for FTBsQueensland’s housing market is one of the most accessible in Australia for FTBs. Its top end housing market has among the shortest savings times for FTB couples, with only the Northern Territory and Tasmanian housing markets having shorter savings times. No Queensland LGA requires more than six years to save a deposit for a median priced house, and nine in 10 (90%) require savings time of less than four years.

Top 10 Queensland LGAs where it takes the most time for FTB couples to save a house deposit

Gold Coast and Noosa the regions requiring the longest savings time for housesOnly four of the top 10 LGAs requiring the longest savings time for a house deposit are within Queensland’s capital city of Brisbane. Gold Coast (5.6 years) and Noosa (5.4 years) top the list for the longest required savings time.

Both LGAs have experienced a year-on-year increase in required savings time, from 5.2 years and 4.8 years respectively, as the median house value has increased by 10.3% and 15.8% respectively over the last year. Demand for housing in these LGAs is likely to be strong given their popularity as tourism destinations and proximity to the coast.

However, illustrating the relative accessibility of Queensland houses, 54% of Queensland LGAs (27 of 50 LGAs) have experienced a decline in required savings time for FTB couples in the 12 months to June 2016.

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)

Region State Savings needed for 20% house deposit

(June 2016)

Paroo Shire 0.5 0.8 0.4 South West QLD $8,500 Isaac Regional 0.7 1.5 2.5 Central QLD $26,400 Flinders Shire 1.0 1.2 0.9 North West QLD $23,500 Central Highlands Regional 1.2 1.8 2.2 Darling Downs QLD $39,300

Blackall Tambo Regional 1.3 1.5 1.4 Central West QLD $23,600 Murweh Shire 1.5 1.5 1.5 South West QLD $29,600 Quilpie Shire 1.5 1.4 0.8 South West QLD $23,700 Cloncurry Shire 1.7 1.8 1.8 North West QLD $47,000 Charters Towers Regional 1.7 1.6 1.9 Northern QLD $40,400

Banana Shire 1.7 1.8 2.1 South West QLD $50,100

Top 10 Queensland LGAs where it takes the least time for FTB couples to save a house deposit

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)


20% house deposit (June 2016)

Gold Coast City 5.6 5.2 4.6 Gold Coast QLD $118,400

Noosa 5.4 4.8 4.8 South East Queensland QLD $112,600

Brisbane City 5.3 5.0 4.4 Brisbane QLD $130,400 Sunshine Coast Regional 4.9 4.8 4.5 Wide Bay-

Burnett QLD $101,900

Redland City 4.2 4.1 3.9 Brisbane QLD $98,100

Scenic Rim Regional 3.8 3.6 3.6 West Moreton QLD $80,700

Cairns Regional 3.8 3.7 3.4 Far North QLD $78,400 Moreton Bay Regional 3.7 3.6 3.4 Brisbane QLD $83,200 Logan City 3.6 3.5 3.3 Brisbane QLD $78,000

Mareeba 3.3 3.1 3.0 West Moreton QLD $63,300

QLD

22

Paroo Shire the most accessible LGA for FTBs nationwideQueensland has the largest proportion of LGAs (32% or 16 out of 50) which require less than two years for the average FTB couple to save for a house deposit.

The quickest entrance into the Queensland and the Australian housing market overall, is via Paroo Shire, where FTB couples only need to save for 0.5 years (6 months) to raise the required $8,500 deposit. The next quickest options are in Isaac Regional (0.7 years for a required $26,400 deposit) and Flinders Shire (1 year for a required $23,500).

Top 10 Queensland LGAs where it takes the most time for FTB couples to save a unit deposit

Noosa (4.4 years), Gold Coast (3.5 years) and Sunshine Coast (3.5 years) are the Queensland LGAs requiring the longest savings time for FTB couples to raise a deposit on a median priced unit (requiring a deposit of $89,800, $73,600 and $72,300 respectively).

In Brisbane City, an FTB couple would need to save for an average of 3.4 years for the required $83,400 deposit on a median priced unit.

Annual number of First Time Buyers, Queensland (2006-2016)

Queensland FTBs increase marginallyIn the year to June 2016, the number of Queensland FTBs increased marginally by 1.5% while the number of non-first time buyers in Queensland also increased by 5% over the same period. FTBs make up 15.8% of the dwellings purchased, on par with 2015 (16.3%).

Source: ABS

LGA Name Years to save Unit deposit (June 2016)

Years to save Unit deposit (June 2015)

Years to save Unit deposit (June 2011)

Region State

Savings needed for 20% Unit

deposit $s (June 2016)

Noosa 4.4 3.4 4.0 South East Queensland QLD $89,800 Gold Coast 3.5 3.3 3.3 Gold Coast QLD $73,600 Sunshine Coast 3.5 3.4 3.4 Wide Bay-Burnett QLD $72,300 Brisbane City 3.4 3.4 3.3 Brisbane QLD $83,400 Redland City 3.0 2.9 2.8 Brisbane QLD $68,900 Moreton Bay 2.9 2.8 2.6 Brisbane QLD $64,100 Western Downs 2.8 3.1 2.2 Wide Bay-Burnett QLD $64,400 Somerset 2.8 2.8 2.5 West Moreton QLD $61,000 Bundaberg 2.6 2.6 2.5 Wide Bay-Burnett QLD $48,900 Toowoomba 2.6 2.5 2.1 Darling Downs QLD $54,600

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6. Western Australia Deposit Trends

•

•

• FTB couples in Western Australia need to save for an average of 3.5 years to raise a deposit on a median priced house, on par with 2015 (3.6 years) but below the national average of 4.4 years.Perth is one of the nation’s most accessible capital cities for FTBs, sharing the shortest required savings time among the capital cities with Hobart (3.8 years), driven by a decline in the median house value. Despite this, the number of FTBs in Western Australia declined by 14.1% in the 12 months to June 2016 to 16,424 as falling rents and the removal of the First Home Owners’ Grant on established homes in October 2015 have made buying a home less attractive.Of Perth’s 30 LGAs, two in three (67%) require longer than four years to save for a deposit on a median priced house.

The average FTB couple in Western Australia would need to save for 3.5 years to raise a 20% deposit of $94,400 to buy a median priced house. This is on par with 2015 (3.6 years) but lower than the national average of 4.4 years.

•

23

WA

WA

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)


(June 2016)

Peppermint Grove 19.7 20.2 20.3 Perth WA $686,300 Nedlands 11.7 11.7 12.3 Perth WA $331,500 Cottesloe 11.0 11.1 11.8 Perth WA $362,200 Perth 10.4 11.2 11.0 Perth WA $271,900 Mosman Park 9.8 10.1 11.1 Perth WA $255,800 Claremont 9.4 9.2 10.4 Perth WA $286,500 Cambridge 8.5 8.9 8.9 Perth WA $251,400 East Fremantle 8.4 8.5 8.3 Perth WA $249,900 Subiaco 7.3 7.2 8.0 Perth WA $232,400 Vincent 6.8 7.2 6.8 Perth WA $183,300

WA houses remain accessible to FTBs despite removal of grantWhile average wages have only grown by 1.9%, the second lowest wage growth rate nationwide, the median house value in WA declined by 4.1% in 2016. This fall has maintained the relative affordability of housing in the state, despite the removal of the First Home Owners' Grant of $3,000 for established homes under $750,000 as of the 3rd of October, 2015.

Perth FTB couples need an average of 3.8 years to save the required $101,300 for a deposit on a median priced house - a negligible 0.8% reduction compared to 2015. While the median house value in Perth declined by 3.6% in the 12 months to June 2016, the removal of the First Home Owners' Grant has a countervailing effect on the required savings time. Nonetheless, Perth houses remain relatively accessible and Perth shares the shortest required savings time among the capital cities with Hobart, making it one of Australia’s most accessible property markets for FTBs.

Top 10 Western Australian LGAs where it takes the most time for FTB couples to save a house deposit

Peppermint Grove holds onto title as the nation’s least accessible LGA for FTBs Although its median house value has fallen by 4.5% in 2016, Peppermint Grove still requires FTB couples to save $686,300 for a 20% deposit, which would take on average 19.7 years - the longest savings time of any LGA in Australia. The savings required for a deposit in Peppermint Grove alone is 35.5% higher than the median house value in the capital city, Perth.

Peppermint Grove is followed by Nedlands (11.7 years for a required $331,500) and Cottesloe (11.0 years for a required $362,200).

Subiaco and Claremont are the only two LGAs in the top 10 list to have seen an increase in median house value in 2016 (1.8% and 1.7% respectively) and a year-on-year increase in savings time for FTB couples.

The other capital cities of Sydney, Melbourne and Brisbane have each experienced increases in required savings time for a house deposit, as well as the median house value at the top end. Perth is therefore bucking the trend among the capital cities, partly reflective of the two-speed nature of Australia’s economy and its impact on house prices and affordability as well as the impact of the end of the mining construction boom on the capital’s local economy and property market.

24

WA

25

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)


(June 2016)

Coolgardie 0.7 0.8 0.7 South Eastern WA $23,600

Gnowangerup 1.0 0.9 0.8 Lower Great Southern WA $21,000

Merredin 1.2 1.2 1.3 Midlands WA $31,500

Pingelly 1.3 1.1 1.3 Upper Great Southern WA $30,200

Collie 1.4 1.3 1.6 South West WA $43,000 Wongan-Ballidu 1.5 1.3 1.5 Midlands WA $33,100 Ravensthorpe 1.5 1.6 1.8 Eastern WA $38,600 Moora 1.5 1.4 1.4 Midlands WA $32,800 East Pilbara 1.5 3.5 4.7 Pilbara WA $55,900 Boyup Brook 1.6 1.7 1.8 South West WA $35,000

Top 10 Western Australian LGAs where it takes the least time for FTB couples to save a house deposit

LGA Name


(June 2016)


(June 2015)


(June 2011)



Nedlands 5.0 5.4 4.7 Perth WA $136,300 Cottesloe 4.7 5.2 5.8 Perth WA $147,900 Claremont 4.6 4.8 4.0 Perth WA $137,200 Fremantle 4.5 4.5 3.7 Perth WA $117,800 East Fremantle 4.1 4.1 3.8 Perth WA $118,900 Melville 4.0 4.2 3.9 Perth WA $114,300 Perth 3.9 4.2 4.2 Perth WA $98,000 Victoria Park 3.8 3.9 3.0 Perth WA $96,900 South Perth 3.8 4.0 3.7 Perth WA $108,000 Vincent 3.7 3.9 3.6 Perth WA $97,500

Pilbara sees largest reduction in required savings time due to mining downturnCoolgardie in South Eastern WA is the LGA in which it takes the quickest time for an FTB couple to save the required $23,600 deposit on a median priced house (just 0.7 years). Statewide, 21.4% of LGAs (18 out of 84) require less than two years for FTB couples to save a deposit on a median priced house, down from 25.0% in 2015.

Gnowangerup (1.0 year for a required $21,000 deposit) and Merredin (1.2 years for a required $31,500 deposit) round out the top three.

The East Pilbara LGA has seen the largest reduction in required savings time from 3.5 years in 2015 to 1.5 years due to a huge reduction in the median house value in the area. The median house value in the LGA has dropped by 57.6%, the largest decrease for any LGA Australia-wide in the 12 months to June 2016, due to the mining downturn and its adverse impact on employment and the local economy. Neighbouring LGA, Port Hedland, also experienced a 32.6% decline in its median house value over the same period. Couples wishing to purchase a house in Port Hedland now only need to save for 2.5 years in 2016, almost half of the 4.9 years required in 2011.

Top 10 Perth LGAs where it takes the most time for FTB couples to save a unit deposit

Perth units becoming more affordable as median value fallsIt takes the average Perth FTB couple 3.2 years to save for a deposit on a median priced unit, on par with 2015 (3.4 years). Of Perth’s top 10 LGAs where it takes the most time for an FTB couple to save a unit deposit, no LGA has seen a year-on-year increase in required savings time, with eight LGAs seeing a decline in savings time.

Nedlands tops the list with an FTB couple required to save for an average of 5.0 years for the $136,300 deposit on a median priced unit, 0.4 years or around five months less than it would have taken in 2015. Cottesloe (4.7 years for a required $147,900 deposit) and Claremont (4.6 years for a required $137,200 deposit) round out the top three.

Top 10 Perth LGAs where it takes the least time for FTB couples to save a unit deposit

LGA Name


(June 2016)


(June 2015)


(June 2011)



Kwinana 1.6 1.6 1.6 Perth WA $42,500 Rockingham 2.0 2.2 1.8 Perth WA $58,100 Armadale 2.0 2.2 1.7 Perth WA $52,700 Cambridge 2.3 3.4 2.1 Perth WA $66,800 Mundaring 2.5 2.7 2.3 Perth WA $66,500 Gosnells 2.6 2.8 2.3 Perth WA $65,200 Swan 2.7 2.8 2.4 Perth WA $70,300 Wanneroo 2.8 3.0 2.5 Perth WA $73,800 Kalamunda 3.0 3.1 2.5 Perth WA $79,700 Bayswater 3.0 3.1 2.6 Perth WA $79,700

WA

26

Source: ABS

0

Kwinana the only Perth LGA where it takes less than two years to save for a unitEven in Perth’s most accessible areas, it takes more than two years for the average FTB couple to save for a unit in all LGAs but Kwinana. Kwinana has the shortest required savings time for a unit deposit of 1.6 years to raise the $42,500 required for a median priced unit. It takes FTB couples in Rockingham and Armadale, on average, two years to save a $58,100 and $52,700 deposit, respectively.

Annual number of First Time Buyers, Western Australia (2006-2016)

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WA FTB numbers decreasing as rents declineThe number of FTBs in Western Australia declined by 14.1% in the 12 months to June 2016 to 16,424. The decline for non-first time buyers was just 4.5% over the same period. Slowing population growth and housing supply increases in the state have led to Perth rental prices falling by 8.1% in the 12 months to March 2016. Lower rental prices have delayed FTBs from purchasing their first home, as renting at a cheaper rate becomes more attractive. Another likely cause is the removal of the First Home Owners’ Grant in October 2015. Although only available on established houses valued at less than $750,000, FTBs had government assistance to enter the majority of Perth’s property market.

WA

REIWA market Indicators to March 2016

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7. South Australian Deposit TrendsSouth Australian FTB couples require an average of 3.6 years to save a deposit on a median priced house, up slightly compared to 2015 (3.3 years).Adelaide FTB couples need to save for an average of 4.0 years for a deposit on a median priced house, up slightly from 3.6 years in 2015.In the capital, 68.4% of LGAs require longer than four years to save a deposit on a median priced house. However, Adelaide remains relatively accessible for FTBs compared to other capital cities.

•

•

•

South Australian FTBs saving for longer for a house depositThe average FTB couple in South Australia needs to save for 3.6 years to raise a 20% deposit of $78,700 to purchase a median priced house, up slightly from 3.3 years in 2015 but still below the national average of 4.4 years. The main driver of this increase has been South Australia’s median house value growing by 3.8% for the 12 months to June 2016, outpacing average wage growth of 2.2% for the same period.

Adelaide FTB couples require $88,500 for a deposit on a median priced house, up from $78,900 in 2015. The average Adelaide FTB couple needs 4.0 years to save this deposit, up slightly from 3.6 years in 2015.

SA

Top 10 South Australian LGAs where it takes the most time for FTB couples to save a house depositSA

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)


(June 2016)

Walkerville 7.4 7.3 7.3 Adelaide SA $172,500 Burnside 6.8 6.4 6.8 Adelaide SA $169,300 Unley 6.7 6.5 6.5 Adelaide SA $165,400 Norwood Payneham And St Peters 6.4 6.1 6.1 Adelaide SA $148,900

Adelaide 5.8 5.7 5.8 Adelaide SA $131,300 Prospect 5.6 5.6 5.6 Adelaide SA $128,300 Holdfast Bay 5.6 5.5 5.7 Adelaide SA $134,200 Mitcham 5.0 4.9 4.8 Adelaide SA $117,500 West Torrens 4.8 4.6 4.4 Adelaide SA $107,900 Adelaide Hills 4.7 4.6 4.6 Adelaide SA $108,100

Most Adelaide LGAs require savings time of more than four yearsThe majority (68.4%) of Adelaide LGAs (13 out of 19) require longer than four years for an FTB couple to save the deposit required on a median priced house, up from 63.2% in 2015. Looking at LGAs in South Australia with the longest savings time, Walkerville remains top of the list, taking FTB couples 7.4 years on average to save the required deposit of $172,500, followed by Burnside (6.8 years for a required deposit of $169,300) and Unley (6.7 years for a required deposit of $165,400).

Despite this, the South Australian housing market is relatively accessible for FTBs in comparison to other states. The required savings time in Walkerville of 7.4 years is well below that of the top LGA in NSW, Victoria and Western Australia where it takes the most time for an FTB couple to save a house deposit by at least five years.

Top 10 South Australian LGAs where it takes the least time for FTB couples to save a house deposit

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)

Region State


deposit (June 2016)

Coober Pedy 0.9 1.2 1.0 Northern SA $17,500 Peterborough 1.0 1.2 1.0 Northern SA $16,700 Southern Mallee 1.2 1.3 1.3 Murray Lands SA $19,300 Whyalla 1.4 1.7 1.6 Northern SA $36,600 Mount Remarkable 1.5 1.5 1.4 Northern SA $31,500 Port Pirie 1.5 1.6 1.6 Northern SA $30,500 Northern Areas 1.5 1.5 1.4 Northern SA $30,900 Flinders Ranges 1.5 1.5 1.5 Northern SA $32,700 Roxby Downs 1.5 2.2 2.3 Northern SA $53,100 Port Augusta 1.6 1.7 1.8 Northern SA $35,800

29LIVERPOOL PLAINS NSW $35,700 1.69LOCKHART NSW $30,900 1.59

One in four South Australian LGAs require less than two years to save for a house Across South Australia, 25.8% of LGAs require less than two years for an FTB couple to save a deposit on a median priced house, with all of these based outside of the capital city.

The quickest route into South Australia’s housing market is in Coober Pedy, where it takes just 0.9 years to save a $17,500 deposit on a median priced house. Peterborough (1.0 year for a required $16,700 deposit) and Southern Mallee (1.2 years for a required $19,300 deposit) round out the top three.

None of the 10 LGAs where it takes the least time for an FTB couple to save a house deposit have experienced an increase in required savings time, with Roxby Downs showing a notable decrease to 1.5 years from 2.2 years in 2015, largely due to a 29.3% decrease in the median house value in the area for the 12 months to June 2016.

Adelaide LGAs by savings time for FTB couples to save for a unit

LGA Name


(June 2016)


(June 2015)


(June 2011)

Region State


deposit (June 2016)

Walkerville 3.4 3.6 3.6 Adelaide SA $78,400 Adelaide 3.4 3.5 3.4 Adelaide SA $77,100 Norwood Payneham And St Peters 3.2 3.3 3.1 Adelaide SA $74,000

Burnside 3.2 3.2 3.1 Adelaide SA $77,000 Unley 3.1 3.1 3.0 Adelaide SA $75,600 Holdfast Bay 3.1 3.2 3.2 Adelaide SA $73,600 Charles Sturt 3.0 3.0 2.9 Adelaide SA $66,900 Prospect 2.8 2.8 2.8 Adelaide SA $63,600 Campbelltown Sa 2.8 2.8 2.8 Adelaide SA $62,700 Marion 2.7 2.8 2.7 Adelaide SA $62,000 Mitcham 2.7 2.7 2.7 Adelaide SA $62,500 Adelaide Hills 2.7 2.8 2.8 Adelaide SA $60,500 West Torrens 2.6 2.7 2.6 Adelaide SA $57,200 Port Adelaide Enfield 2.5 2.6 2.7 Adelaide SA $54,000 Tea Tree Gully 2.5 2.5 2.5 Adelaide SA $54,800 Onkaparinga 2.3 2.4 2.4 Adelaide SA $48,400 Salisbury 2.2 2.3 2.4 Adelaide SA $46,800 Playford 1.8 1.9 1.6 Adelaide SA $35,900 Gawler 1.8 1.9 2.0 Adelaide SA $40,700

Deposit savings time for Adelaide units remains steadyWalkerville and Adelaide FTB couples need to save for an average of 3.4 years for a deposit on a median priced unit ($78,400 and $77,100 respectively), the longest in South Australia. Norwood Payneham and St Peters (3.2 years for a required $74,000 deposit) and Burnside (3.2 years for a required $77,000 deposit) follow closely.

Across the LGAs, the required savings time for a median priced unit has either remained steady or fallen slightly year-on-year. The median value of Adelaide units rose slightly by 0.2% in the 12 months to June 2016, while average wage growth over the period was 2.2%, meaning Adelaide FTB couples now have a slight advantage in saving for their first unit.

SA

30

URANA NSW $18,100 0.94WAGGA WAGGA NSW $61,500 2.81 $50,600 2.32WAKOOL NSW $35,400 1.85WALCHA NSW $39,900 2.39WALGETT NSW $27,700 1.46WARREN NSW $26,700 1.49WARRINGAH NSW $296,900 10.71 $146,100 5.44WARRUMBUNGLE NSW $31,200 1.74WAVERLEY NSW $492,700 15.89 $193,800 6.61WEDDIN NSW $34,300 1.92

Annual number of First Time Buyers, South Australia (2006-2016)

FTB numbers in South Australia flat liningThe number of FTBs in South Australia declined by 2.3% in 2016, although this is below the national average decline of 3.8%. In the year to June 2016, there were 5,169 FTBs in the state, compared to 5,290 the previous year. FTBs make up 11.1% of the dwellings purchased, compared to 12.3% in 2015.

Source: ABS

SA

31

LIVINGSTONE QLD $73,500 2.98 $56,400 LOCKYER VALLEY REGIONAL QLD $57,600 3.14 $43,300 2.37 LOGAN CITY QLD $78,000 3.64 $47,400 2.23 LONGREACH REGIONAL QLD $39,600 1.91 MACKAY REGIONAL QLD $63,200 2.13 $53,600 1.81 MARANOA REGIONAL QLD $54,100 2.28 $54,300 MAREEBA QLD $63,300 3.32 MORETON BAY REGIONAL QLD $83,200 3.70 $64,100 2.86 MOUNT ISA CITY QLD $64,800 2.09 $61,900 2.00 MURWEH SHIRE QLD $29,600 1.50 NOOSA QLD $112,600 5.43 $89,800 4.36 NORTH BURNETT REGIONAL QLD $31,600 2.12 PAROO SHIRE QLD $8,500 0.45 QUILPIE SHIRE QLD $23,700 1.51 REDLAND CITY QLD $98,100 4.20 $68,900 2.97 ROCKHAMPTON REGIONAL QLD $54,800 2.24 $55,800 2.28 SCENIC RIM REGIONAL QLD $80,700 3.81 $42,000 2.01 SOMERSET REGIONAL QLD $58,800 2.70 $61,000 2.80

0

2000

4000

6000

8000

10000

12000

14000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

8. ACT Deposit Trends

FTB couples in the ACT need to save for an average of 4.3 years to raise a deposit on a median priced house, on par with 2015 (4.1 years).In line with other states and territories, units provide a more accessible route to the property market. ACT FTBs need to save for an average of 3.0 years to raise a deposit on a median priced unit, unchanged compared with last year.North and South Canberra have seen the largest year-on-year increase in required savings time for a median priced house (both up 0.6 years), while required savings time for a median priced unit are stagnant.

•

•

•

32

ACT

Overall in the ACT, the average FTB couple requires 4.3 years to save a 20% deposit on a median priced house, on par with 2015 (4.1 years).

ACT LGAs by savings time for FTB couples to save for a house

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)


(June 2016)

South Canberra 7.0 6.4 6.4 ACT ACT $229,100 North Canberra 5.9 5.3 5.2 ACT ACT $167,900 Woden Valley 5.4 5.2 4.9 ACT ACT $153,600 Weston Creek 4.2 3.9 3.9 ACT ACT $122,300 Gungahlin 4.0 3.7 3.5 ACT ACT $112,200 Belconnen 3.9 3.8 3.7 ACT ACT $103,800 Tuggeranong 3.8 4.2 3.6 ACT ACT $100,000

South Canberra and North Canberra see increase in required savings timeIn South Canberra, it takes FTB couples an average of 7.0 years to raise the $229,100 deposit required on a median priced house, up from 6.4 years in 2015. North Canberra has seen a similar year-on-year increase in required savings time. FTB couples in the LGA require $167,900 for the deposit, which on average takes 5.9 years to save, up from 5.3 years in 2015.

These LGAs have experienced the largest rise in median house values of 10.5% for South Canberra and 13.1% for North Canberra, driving the year-on-year increase in savings time.

Tuggeranong the LGA with the shortest savings time for a houseTuggeranong has experienced the greatest reduction in required savings time relative to all other LGAs in the ACT (0.4 years), causing it to overtake Weston Creek and Belconnen relative to 2015 as the LGA in which it takes the shortest time to save for a house deposit. The main driver of this reduced savings time is an 11.0% fall in the median house value in Tuggeranong. Tuggeranong FTB couples now only require $100,000 for a

hodeposit on a median priced $500,000 use in the area.

KANGAROO ISLAND SA $48,700 2.88KAROONDA EAST MURRAY SA $25,300KINGSTON SA SA $45,100 2.35LIGHT SA $69,700 3.28LOWER EYRE PENINSULA SA $59,900 3.34LOXTON WAIKERIE SA $37,800 2.14MALLALA SA $66,500 3.13MARION SA $92,100 4.03 $62,000 2.73MID MURRAY SA $43,300 2.38MITCHAM SA $117,500 5.00 $62,500 2.70MOUNT BARKER SA $80,500 3.64 $61,500 2.79MOUNT GAMBIER SA $45,400 2.28 $33,400 1.68MOUNT REMARKABLE SA $31,500 1.46MURRAY BRIDGE SA $46,300 2.70 $37,100 2.17NARACOORTE LUCINDALE SA $43,700 2.33NORTHERN AREAS SA $30,900 1.48Norwood Payneham AND StPeters SA $148,900 6.38 $74,000 3.23ONKAPARINGA SA $69,200 3.27 $48,400 2.30PETERBOROUGH SA $16,700 1.02PLAYFORD SA $46,200 2.36 $35,900 1.84PORT ADELAIDE ENFIELD SA $82,700 3.81 $54,000 2.50PORT AUGUSTA SA $35,800 1.56PORT LINCOLN SA $58,900 2.84 $51,900 2.50Port Pirie SA $30,500 1.48PROSPECT SA $128,300 5.62 $63,600 2.83

ACT

Time to save a unit deposit for FTB couples in the ACT

Annual number of First Time Buyers, ACT (2006-2016)

LGA Name


deposit (June 2016)


deposit (June 2015)


deposit (June 2011)

Region State


deposit (June 2016)

North Canberra 3.1 3.1 3.3 ACT ACT $85,600 South Canberra 3.0 3.0 3.2 ACT ACT $97,600 Belconnen 2.9 3.0 3.0 ACT ACT $76,700 Tuggeranong 2.9 2.9 2.9 ACT ACT $77,200 Weston Creek 2.9 2.9 2.9 ACT ACT $82,200 Woden Valley 2.8 2.9 3.0 ACT ACT $79,000 Gungahlin 2.6 2.6 2.7 ACT ACT $74,000

It takes three years for FTBs to save for a unit in the ACTIn North Canberra, FTB couples need to wait an average of 3.1 years to save the $85,600 deposit required for a median priced unit. A higher deposit of $97,600 is required in South Canberra, with the second longest required savings time of 3.0 years.

The shortest required savings time for a median priced unit in the ACT is in Gungahlin, where it only takes 2.6 years to save a unit deposit of $74,000. Relative to 2015, required savings time for a median priced unit in the ACT is largely stable across all LGAs.

ACT FTB numbers declineFTBs in the ACT declined by 9.9% in the 12 months to June 2016, while non-first home buyers increased by 11.6% during the same period. FTBs have to wait, on average, 0.2 years or two to three months longer to save for a unit in 2016 compared to 2015.

33

Source: ABS

BURNIE CITY COUNCIL TAS $41,300 2.00 $34,500 1.67CENTRAL COAST COUNCIL TAS $49,400 2.44 $42,800 2.12CENTRAL HIGHLANDS COUNCIL TAS $31,300 1.75CIRCULAR HEAD COUNCIL TAS $39,000 2.05CLARENCE CITY COUNCIL TAS $74,100 3.37 $59,800 2.73DERWENT VALLEY COUNCIL TAS $40,300 2.28 $38,300DEVONPORT CITY COUNCIL TAS $45,100 2.33 $39,800 2.24DORSET COUNCIL TAS $37,700 2.12FLINDERS COUNCIL TAS $37,500GEORGE TOWN COUNCIL TAS $33,200 1.66 $42,600 2.13GLAMORGAN-SPRING BAYCOUNCIL TAS $51,100 2.88 $52,900GLENORCHY CITY COUNCIL TAS $54,800 2.80 $42,700 2.19HOBART CITY COUNCIL TAS $106,000 5.04 $64,900 3.12HUON VALLEY COUNCIL TAS $59,600 3.46 $40,700 2.38KENTISH COUNCIL TAS $42,700 2.28KINGBOROUGH COUNCIL TAS $79,400 3.68 $59,800 2.79LATROBE COUNCIL TAS $56,200 2.79 $45,600 2.27LAUNCESTON CITY COUNCIL TAS $52,800 2.67 $41,600 2.11MEANDER VALLEY COUNCIL TAS $54,600 2.73 $43,400 2.18NORTHERN MIDLANDS COUNCIL TAS $47,200 2.56 $42,800 2.32SORELL COUNCIL TAS $51,700 2.68 $47,200 2.45SOUTHERN MIDLANDS COUNCIL TAS $46,000 2.59TASMAN COUNCIL TAS $44,500 3.12WARATAH-WYNYARD COUNCIL TAS $45,200 2.18 $40,900 1.98WEST COAST COUNCIL TAS $13,000 0.47WEST TAMAR COUNCIL TAS $56,500 2.74 $41,600 2.03ALPINE VIC $60,100 3.32 $45,900 2.54ARARAT VIC $37,900 2.04 $34,000 1.83BALLARAT VIC $60,800 2.88 $45,600 2.17BANYULE VIC $152,100 6.08 $108,600 4.39BASS COAST VIC $70,500 3.26 $58,100 2.69

0

500

1000

1500

2000

2500

3000

3500

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

9. Editor’s NotesThe time taken for first time buyers to save a deposit has been calculated by comparing house and unit prices with income data for potential first time buyers (represented by 25-34 year olds) at a local government area level.

Calculations are based on first time buyers saving 20% of a median priced house or unit for established dwellings, as this represents 84.4% of all dwelling sales in Australia, according to the Australian Bureau of Statistics (ABS).

Deposit savings times have been calculated on the basis of a first time buyer couple setting aside 20% of their combined pre-tax income annually. The calculation assumes the savings from their salary is deposited in an online savings account each month and earns interest on this basis. Interest earned is assumed to be taxed at an individual’s marginal tax rate.

Income levels for 25-34 year olds have been used as a proxy for potential first time buyer incomes. Income data has been sourced at a local government area level. Average income data by local government area has been sourced from the ABS Census 2011.

Income levels by age and local government area for 2016, 2015 and 2011 have been estimated using 2011 Census data and ABS Wage Price Index data by state.

Median house and unit prices have been sourced from Residex and are for the years ending June 2011, June 2015 and Junes 2016. Local areas have only been included where a minimum number of house sales (20 sales over 2011 and 2016 combined) have been recorded over the periods covered in order to prevent sampling bias. Data for industry average online savings account rates have been sourced from the Reserve Bank of Australia (RBA).

Data on the number of first time buyers and proportion of established home sales has been sourced from the ABS Housing Finance Series (ABS 5609). The ABS has updated the measurement of first time buyers for the period October 2012 – July 2016 . Because of this, comparisons with first time buyer numbers in last year’s report will show some variation.

Data from previous reports may not match data published in this report due to updated data from the ABS, Residex and the RBA.

Tables may not sum due to rounding.

ABS 5609 – Housing Finance, August 2016 release (p5) for more information12

12

NOTES

34

GLEN EIRA VIC $262,300 10.55 $117,100 4.88 GLENELG VIC $41,100 1.90 $30,400 1.41 GOLDEN PLAINS VIC $73,700 3.39 $54,800 GREATER BENDIGO VIC $63,900 3.08 $47,700 2.31 GREATER DANDENONG VIC $113,500 5.85 $68,600 3.59 GREATER GEELONG VIC $81,800 3.65 $62,200 2.79 GREATER SHEPPARTON VIC $48,100 2.50 $39,000 2.03 HEPBURN VIC $75,200 4.03 $58,900 3.17 HINDMARSH VIC $20,600 1.12 HOBSONS BAY VIC $139,200 5.69 $91,300 3.78 HORSHAM VIC $46,600 2.37 $42,900 2.19 HUME VIC $79,000 3.57 $64,300 2.92 INDIGO VIC $60,200 2.93 $38,900 1.90 KINGSTON VIC VIC $159,300 6.52 $99,100 4.12 KNOX VIC $134,200 5.57 $93,800 3.93 LATROBE VIC $43,900 1.82 $33,200 1.38 LODDON VIC $32,600 1.80 MACEDON RANGES VIC $103,300 4.41 $71,400 3.07 MANNINGHAM VIC $224,500 8.64 $124,500 4.90 MANSFIELD VIC $66,700 3.70 $56,900 3.17 MARIBYRNONG VIC $157,500 6.70 $84,000 3.64 MAROONDAH VIC $140,300 5.86 $94,300 3.99 MELBOURNE VIC $215,500 8.72 $101,600 4.22 MELTON VIC $73,200 3.20 $53,900 2.37 MILDURA VIC $46,600 2.47 $32,900 1.75 MITCHELL VIC $66,100 2.94 $49,900 2.23 MOIRA VIC $46,500 2.46 $37,200 1.97 MONASH VIC $213,400 9.25 $128,700 5.70 MOONEE VALLEY VIC $183,400 7.06 $95,900 3.76 MOORABOOL VIC $77,300 3.38 $53,200 2.34 MORELAND VIC $151,800 6.58 $90,000 3.97 MORNINGTON PENINSULA VIC $119,500 5.40 $79,400 3.63 MOUNT ALEXANDER VIC $77,700 4.09 $63,000 3.34 MOYNE VIC $67,700 3.51 $75,300 3.89 MURRINDINDI VIC $61,900 3.16 $47,300 2.43 NILLUMBIK VIC $148,200 5.90 $102,900 4.14 NORTHERN GRAMPIANS VIC $34,600 1.77 $32,400 PORT PHILLIP VIC $294,000 10.25 $110,600 4.01 PYRENEES VIC $42,000 2.23 QUEENSCLIFFE VIC $159,400 7.13 $102,900 4.67

EDITOR’S NOTES

35

LGA State


deposit (June 2016)


(June 2016)

Savings needed for 20% Unit

deposit (June 2016)


BELCONNEN ACT $103,800 3.92 $76,700 2.92 GUNGAHLIN ACT $112,200 3.96 $74,000 2.63 NORTH CANBERRA ACT $167,900 5.92 $85,600 3.07 SOUTH CANBERRA ACT $229,100 6.99 $97,600 3.05 TUGGERANONG ACT $100,000 3.76 $77,200 2.92 WESTON CREEK ACT $122,300 4.22 $82,200 2.86 WODEN VALLEY ACT $153,600 5.42 $79,000 2.83 ALBURY NSW $60,900 2.88 ARMIDALE DUMARESQ NSW $67,900 3.64 $52,000 2.80 ASHFIELD NSW $308,600 13.16 $137,900 6.14 BALLINA NSW $107,800 5.70 $81,300 4.33 BALRANALD NSW $29,500 1.69 BANKSTOWN NSW $182,400 7.82 $108,900 4.76 BATHURST REGIONAL NSW $71,500 3.20 $52,700 2.37 BEGA VALLEY NSW $79,000 4.17 $51,700 2.75 BELLINGEN NSW $86,300 4.98 $52,600 3.07 BERRIGAN NSW $37,500 1.96 BLACKTOWN NSW $130,900 5.58 $97,800 4.20 BLAND NSW $28,500 1.29 BLAYNEY NSW $51,700 2.14 BLUE MOUNTAINS NSW $112,400 4.88 $92,400 4.04 BOGAN NSW $28,700 1.19 BOMBALA NSW $33,300 1.69 BOOROWA NSW $43,100 2.26 BOTANY BAY NSW $282,700 10.83 $141,500 5.60 BOURKE NSW $27,800 1.26 BREWARRINA NSW $20,900 1.19 BROKEN HILL NSW $22,100 1.01 BURWOOD NSW $336,900 15.21 $158,900 7.52 BYRON NSW $140,800 8.97 $109,000 7.05 CABONNE NSW $39,500 1.78 CAMDEN NSW $133,900 5.12 $92,500 3.57 CAMPBELLTOWN NSW $110,800 4.91 $81,200 3.63 CANADA BAY NSW $375,700 12.32 $176,600 6.02 CANTERBURY NSW $235,200 10.83 $97,900 4.68 CARRATHOOL NSW $24,800 1.42 CENTRAL DARLING NSW $13,300 0.65 CESSNOCK NSW $61,000 2.48 $56,100 2.28 CITY OF AUBURN NSW $199,500 9.25 $117,400 5.57 CITY OF KOGARAH NSW $300,700 12.30 $134,200 5.71 CLARENCE VALLEY NSW $63,300 3.50 $60,000 3.32 COBAR NSW $40,700 1.43

10. Full List of Deposit Savings Time

FULL LIST

COFFS HARBOUR NSW $87,600 4.69 $58,700 3.17 COOLAMON NSW $32,400 1.67 COOMA-MONARO NSW $47,300 2.25 COONAMBLE NSW $23,300 1.17 COOTAMUNDRA NSW $41,900 2.09 COROWA ̀ NSW $47,600 2.43 $38,700 1.98 COWRA NSW $41,900 2.28 $30,800 1.68 DENILIQUIN NSW $38,500 1.91 $32,000 1.59 DUBBO NSW $64,500 3.00 $50,400 2.35 DUNGOG NSW $65,000 2.67 EUROBODALLA NSW $77,800 4.63 $53,100 3.19 FAIRFIELD NSW $146,200 6.57 $84,000 3.84 FORBES NSW $43,900 2.24 GILGANDRA NSW $31,100 1.55 GLEN INNES SEVERN SHIRE NSW $36,800 2.08 GLOUCESTER NSW $54,100 2.47 GOSFORD NSW $127,800 5.57 $92,700 4.07 GOULBURN MULWAREE NSW $67,500 3.16 $48,500 2.29 GREAT LAKES NSW $81,700 4.26 $61,900 3.24 GREATER HUME NSW $35,600 1.90 GREATER TAREE NSW $61,800 3.38 $46,500 2.55 GRIFFITH NSW $55,800 2.87 $47,100 2.43 GUNDAGAI NSW $42,300 2.10 GUNNEDAH NSW $56,600 2.48 $52,600 2.31 GUYRA NSW $39,500 2.48 GWYDIR NSW $29,300 1.53 HARDEN NSW $34,600 1.92 HAWKESBURY NSW $122,300 5.23 $91,700 3.95 HAY NSW $28,300 1.44 HOLROYD NSW $168,200 7.18 $100,000 4.34 HORNSBY NSW $245,500 9.04 $140,000 5.27 HUNTERS HILL NSW $509,800 15.16 $188,300 5.92 HURSTVILLE NSW $243,500 10.16 $124,900 5.37 INVERELL NSW $44,700 2.46 $50,700 2.79 JERILDERIE NSW $28,300 1.48 JUNEE NSW $40,400 2.00 KEMPSEY NSW $54,400 3.03 $48,200 2.69 KIAMA NSW $157,900 6.59 $101,500 4.30 KU-RING-GAI NSW $393,000 12.92 $172,200 5.91 KYOGLE NSW $45,800 2.60 LACHLAN NSW $30,300 1.65 LAKE MACQUARIE NSW $98,000 4.05 $78,300 3.25 LANE COVE NSW $440,000 13.36 $147,200 4.71 LEETON NSW $41,900 2.11 $36,400 1.83 LEICHHARDT NSW $296,800 8.80 $195,700 5.90 LISMORE NSW $66,600 3.78 $48,800 2.78 LITHGOW NSW $53,000 2.13 LIVERPOOL NSW $145,300 6.08 $89,200 LIVERPOOL PLAINS NSW $35,700 1.69 LOCKHART NSW $30,900 1.59 MAITLAND NSW $78,000 3.05 $60,400 3.08 MANLY NSW $438,900 14.43 $218,800 8.28 MARRICKVILLE NSW $258,300 10.00 $136,200 4.75 MID-WESTERN REGIONAL NSW $65,000 2.49 $68,200 2.76 MOREE PLAINS NSW $43,100 2.06 MOSMAN NSW $613,000 17.37 $180,600 5.48 MURRAY NSW $66,500 3.24 $43,200 2.12 MURRUMBIDGEE NSW $33,400 1.84 MUSWELLBROOK NSW $53,400 1.78 $43,600 1.46 NAMBUCCA NSW $65,600 3.86 $49,000 2.90 NARRABRI NSW $54,300 2.50 NARRANDERA NSW $31,800 1.74

36

FULL LIST

MANLY NSW $438,900 14.43 $218,800 8.28 MARRICKVILLE NSW $258,300 10.00 $136,200 4.75 MID-WESTERN REGIONAL NSW $65,000 2.49 $68,200 2.76 MOREE PLAINS NSW $43,100 2.06 MOSMAN NSW $613,000 17.37 $180,600 5.48 MURRAY NSW $66,500 3.24 $43,200 2.12 MURRUMBIDGEE NSW $33,400 1.84 MUSWELLBROOK NSW $53,400 1.78 $43,600 1.46 NAMBUCCA NSW $65,600 3.86 $49,000 2.90 NARRABRI NSW $54,300 2.50 NARRANDERA NSW $31,800 1.74 NARROMINE NSW $39,000 1.98 NEWCASTLE NSW $106,300 4.28 $89,300 3.61 NORTH SYDNEY NSW $430,200 12.52 $193,500 5.85 OBERON NSW $51,100 2.24 ORANGE NSW $65,900 2.71 $46,400 1.86 PALERANG NSW $100,200 3.96 PARKES NSW $41,800 1.87 PARRAMATTA NSW $201,200 8.61 $116,000 5.07 PENRITH NSW $124,200 5.14 $87,800 3.66 PITTWATER NSW $300,900 11.36 $165,100 6.42 PORT MACQUARIE-HASTINGS NSW $93,200 4.61 $69,500 3.46 PORT STEPHENS NSW $89,000 3.89 $73,100 3.21 QUEANBEYAN CITY NSW $110,000 4.12 $60,200 2.28 RANDWICK NSW $392,900 13.69 $172,900 6.30 RICHMOND VALLEY NSW $54,500 3.02 $59,300 3.28 ROCKDALE NSW $254,300 10.80 $131,200 5.74 RYDE NSW $316,300 11.82 $138,200 5.37 SHELLHARBOUR NSW $107,200 4.50 $82,100 3.46 SHOALHAVEN NSW $87,900 4.31 $63,800 3.15 SINGLETON NSW $72,700 2.23 $57,300 1.76 SNOWY RIVER NSW $65,600 3.89 $48,800 2.91 STRATHFIELD NSW $410,800 17.86 $127,200 5.95 SUTHERLAND SHIRE NSW $228,000 8.05 $136,000 4.89 SYDNEY NSW $299,200 12.30 $166,500 7.07 TAMWORTH REGIONAL NSW $59,200 2.90 $45,900 2.26 TEMORA NSW $41,400 2.17 TENTERFIELD NSW $38,000 2.25 THE HILLS SHIRE NSW $232,000 8.26 $157,500 5.69 TUMBARUMBA NSW $31,800 1.71 TUMUT NSW $44,300 2.12 $41,100 1.97 TWEED NSW $101,700 5.15 $73,300 3.74 UPPER HUNTER NSW $56,500 2.30 UPPER LACHLAN SHIRE NSW $56,900 2.72 URALLA NSW $50,100 2.91 URANA NSW $18,100 0.94 WAGGA WAGGA NSW $61,500 2.81 $50,600 2.32 WAKOOL NSW $35,400 1.85 WALCHA NSW $39,900 2.39 WALGETT NSW $27,700 1.46 WARREN NSW $26,700 1.49 WARRINGAH NSW $296,900 10.71 $146,100 5.44 WARRUMBUNGLE NSW $31,200 1.74 WAVERLEY NSW $492,700 15.89 $193,800 6.61 WEDDIN NSW $34,300 1.92 WELLINGTON NSW $32,500 1.61 WENTWORTH NSW $42,500 2.24 $33,400 1.77 WILLOUGHBY NSW $450,900 14.38 $176,100 5.91 WINGECARRIBEE NSW $120,900 5.57 $101,800 4.71 WOLLONDILLY NSW $117,600 4.72 $83,000 3.36 WOLLONGONG NSW $130,700 5.39 $97,200 4.04 WOOLLAHRA NSW $595,600 16.85 $226,400 6.78 WYONG NSW $97,400 4.53 $75,000 3.51 YASS VALLEY NSW $81,400 3.38 $67,600 2.82 YOUNG NSW $45,200 2.44 $51,300 2.77 ALICE SPRINGS NT $91,700 4.01 $63,200 2.79 BARKLY NT $52,800 2.64

37

FULL LIST

WENTWORTH NSW $42,500 2.24 $33,400 1.77 WILLOUGHBY NSW $450,900 14.38 $176,100 5.91 WINGECARRIBEE NSW $120,900 5.57 $101,800 4.71 WOLLONDILLY NSW $117,600 4.72 $83,000 3.36 WOLLONGONG NSW $130,700 5.39 $97,200 4.04 WOOLLAHRA NSW $595,600 16.85 $226,400 6.78 WYONG NSW $97,400 4.53 $75,000 3.51 YASS VALLEY NSW $81,400 3.38 $67,600 2.82 YOUNG NSW $45,200 2.44 $51,300 2.77 ALICE SPRINGS NT $91,700 4.01 $63,200 2.79 BARKLY NT $52,800 2.64 DARWIN NT $115,400 4.76 $79,500 3.31 KATHERINE NT $72,900 3.10 PALMERSTON NT $93,499 3.56 $67,700 2.59 BALONNE SHIRE QLD $40,000 2.09 BANANA SHIRE QLD $50,100 1.72 BARCALDINE REGIONAL QLD $35,600 1.85 BLACKALL TAMBO REGIONAL QLD $23,600 1.29 BRISBANE CITY QLD $130,400 5.28 $83,400 3.42 BUNDABERG REGIONAL QLD $54,400 2.90 $48,900 2.61 BURDEKIN SHIRE QLD $39,100 1.96 $34,600 1.74 CAIRNS REGIONAL QLD $78,400 3.81 $41,900 2.06 CARPENTARIA SHIRE QLD $40,000 1.88 CASSOWARY COAST REGIONAL QLD $47,800 2.74 $35,600 2.05 CENTRAL HIGHLANDS REGIONAL QLD $39,300 1.23 $47,800 1.49 CHARTERS TOWERS REGIONAL QLD $40,400 1.71 CLONCURRY SHIRE QLD $47,000 1.70 COOK SHIRE QLD $51,700 2.45 FLINDERS SHIRE QLD $23,500 1.03 FRASER COAST REGIONAL QLD $59,000 3.00 $45,800 2.34 GLADSTONE REGIONAL QLD $64,500 2.19 $49,800 1.70 GOLD COAST CITY QLD $118,400 5.62 $73,600 3.54 GOONDIWINDI REGIONAL QLD $51,000 2.52 GYMPIE REGIONAL QLD $54,800 2.82 $47,100 2.43 HINCHINBROOK SHIRE QLD $42,100 1.94 IPSWICH CITY QLD $64,700 2.90 $50,700 2.28 ISAAC REGIONAL QLD $26,400 0.69 LIVINGSTONE QLD $73,500 2.98 $56,400 LOCKYER VALLEY REGIONAL QLD $57,600 3.14 $43,300 2.37 LOGAN CITY QLD $78,000 3.64 $47,400 2.23 LONGREACH REGIONAL QLD $39,600 1.91 MACKAY REGIONAL QLD $63,200 2.13 $53,600 1.81 MARANOA REGIONAL QLD $54,100 2.28 $54,300 MAREEBA QLD $63,300 3.32 MORETON BAY REGIONAL QLD $83,200 3.70 $64,100 2.86 MOUNT ISA CITY QLD $64,800 2.09 $61,900 2.00 MURWEH SHIRE QLD $29,600 1.50 NOOSA QLD $112,600 5.43 $89,800 4.36 NORTH BURNETT REGIONAL QLD $31,600 2.12 PAROO SHIRE QLD $8,500 0.45 QUILPIE SHIRE QLD $23,700 1.51 REDLAND CITY QLD $98,100 4.20 $68,900 2.97 ROCKHAMPTON REGIONAL QLD $54,800 2.24 $55,800 2.28 SCENIC RIM REGIONAL QLD $80,700 3.81 $42,000 2.01 SOMERSET REGIONAL QLD $58,800 2.70 $61,000 2.80 SOUTH BURNETT REGIONAL QLD $40,400 1.88 $32,200 1.50 SOUTHERN DOWNS REGIONAL QLD $49,800 2.86 $43,800 2.52 SUNSHINE COAST REGIONAL QLD $101,900 4.93 $72,300 3.53 TABLELANDS REGIONAL QLD $60,600 3.18 $40,900 2.16 TOOWOOMBA REGIONAL QLD $70,600 3.29 $54,600 2.56 TOWNSVILLE CITY QLD $63,700 2.57 $48,200 1.95 WEIPA TOWN QLD $93,300 3.16 $69,800 2.37 WESTERN DOWNS REGIONAL QLD $47,000 2.08 $64,400 2.83 WHITSUNDAY REGIONAL QLD $63,100 2.99 $47,800 2.28 ADELAIDE SA $131,300 5.76 $77,100 3.43 ADELAIDE HILLS SA $108,100 4.71 $60,500 2.67 ALEXANDRINA SA $69,700 3.48 $51,400 2.58 BAROSSA SA $70,300 3.28 $47,800

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FULL LIST

SOUTHERN DOWNS REGIONAL QLD $49,800 2.86 $43,800 2.52 SUNSHINE COAST REGIONAL QLD $101,900 4.93 $72,300 3.53 TABLELANDS REGIONAL QLD $60,600 3.18 $40,900 2.16 TOOWOOMBA REGIONAL QLD $70,600 3.29 $54,600 2.56 TOWNSVILLE CITY QLD $63,700 2.57 $48,200 1.95 WEIPA TOWN QLD $93,300 3.16 $69,800 2.37 WESTERN DOWNS REGIONAL QLD $47,000 2.08 $64,400 2.83 WHITSUNDAY REGIONAL QLD $63,100 2.99 $47,800 2.28 ADELAIDE SA $131,300 5.76 $77,100 3.43 ADELAIDE HILLS SA $108,100 4.71 $60,500 2.67 ALEXANDRINA SA $69,700 3.48 $51,400 2.58 BAROSSA SA $70,300 3.28 $47,800 BARUNGA WEST SA $45,700 2.43 BERRI BARMERA SA $35,700 BURNSIDE SA $169,300 6.84 $77,000 3.18 CAMPBELLTOWN SA $105,400 4.63 $62,700 2.78 CEDUNA SA $48,600 2.65 CHARLES STURT SA $103,500 4.56 $66,900 2.98 CLARE AND GILBERT VALLEYS SA $51,200 2.47 CLEVE SA $37,300 2.09 COOBER PEDY SA $17,500 0.92 COPPER COAST SA $49,500 2.56 ELLISTON SA $44,300 2.46 FLINDERS RANGES SA $32,700 1.50 FRANKLIN HARBOUR SA $44,000 GAWLER SA $62,400 2.80 $40,700 1.83 GOYDER SA $34,500 1.91 GRANT SA $49,500 2.51 HOLDFAST BAY SA $134,200 5.57 $73,600 3.10 KANGAROO ISLAND SA $48,700 2.88 KAROONDA EAST MURRAY SA $25,300 KINGSTON SA SA $45,100 2.35 LIGHT SA $69,700 3.28 LOWER EYRE PENINSULA SA $59,900 3.34 LOXTON WAIKERIE SA $37,800 2.14 MALLALA SA $66,500 3.13 MARION SA $92,100 4.03 $62,000 2.73 MID MURRAY SA $43,300 2.38 MITCHAM SA $117,500 5.00 $62,500 2.70 MOUNT BARKER SA $80,500 3.64 $61,500 2.79 MOUNT GAMBIER SA $45,400 2.28 $33,400 1.68 MOUNT REMARKABLE SA $31,500 1.46 MURRAY BRIDGE SA $46,300 2.70 $37,100 2.17 NARACOORTE LUCINDALE SA $43,700 2.33 NORTHERN AREAS SA $30,900 1.48 NORWOOD PAYNEHAM AND ST PETERS SA $148,900 6.38 $74,000 3.23 ONKAPARINGA SA $69,200 3.27 $48,400 2.30 PETERBOROUGH SA $16,700 1.02 PLAYFORD SA $46,200 2.36 $35,900 1.84 PORT ADELAIDE ENFIELD SA $82,700 3.81 $54,000 2.50 PORT AUGUSTA SA $35,800 1.56 PORT LINCOLN SA $58,900 2.84 $51,900 2.50 PORT PIRIE SA $30,500 1.48 PROSPECT SA $128,300 5.62 $63,600 2.83 RENMARK PARINGA SA $37,600 2.24 ROBE SA $65,500 3.65 ROXBY DOWNS SA $53,100 1.51 SALISBURY SA $60,900 2.90 $46,800 2.24 SOUTHERN MALLEE SA $19,300 1.17 STREAKY BAY SA $49,600 2.55 TATIARA SA $29,600 1.75 TEA TREE GULLY SA $78,000 3.47 $54,800 2.45 THE COORONG SA $33,300 1.91 TUMBY BAY SA $56,200 2.85 UNLEY SA $165,400 6.68 $75,600 3.12 VICTOR HARBOR SA $69,700 3.71 $50,800 2.72 WAKEFIELD SA $34,100 1.74

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ROBE SA $65,500 3.65 ROXBY DOWNS SA $53,100 1.51 SALISBURY SA $60,900 2.90 $46,800 2.24 SOUTHERN MALLEE SA $19,300 1.17 STREAKY BAY SA $49,600 2.55 TATIARA SA $29,600 1.75 TEA TREE GULLY SA $78,000 3.47 $54,800 2.45 THE COORONG SA $33,300 1.91 TUMBY BAY SA $56,200 2.85 UNLEY SA $165,400 6.68 $75,600 3.12 VICTOR HARBOR SA $69,700 3.71 $50,800 2.72 WAKEFIELD SA $34,100 1.74 WALKERVILLE SA $172,500 7.38 $78,400 3.44 WATTLE RANGE SA $34,100 1.82 WEST TORRENS SA $107,900 4.82 $57,200 2.59 WHYALLA SA $36,600 1.43 WUDINNA SA $32,900 YANKALILLA SA $68,400 3.82 $33,000 1.86 YORKE PENINSULA SA $48,300 2.60 BREAK ODAY COUNCIL TAS $40,600 2.35 $36,500 2.12 BRIGHTON COUNCIL TAS $48,500 2.49 $40,700 2.09 BURNIE CITY COUNCIL TAS $41,300 2.00 $34,500 1.67 CENTRAL COAST COUNCIL TAS $49,400 2.44 $42,800 2.12 CENTRAL HIGHLANDS COUNCIL TAS $31,300 1.75 CIRCULAR HEAD COUNCIL TAS $39,000 2.05 CLARENCE CITY COUNCIL TAS $74,100 3.37 $59,800 2.73 DERWENT VALLEY COUNCIL TAS $40,300 2.28 $38,300 DEVONPORT CITY COUNCIL TAS $45,100 2.33 $39,800 2.24 DORSET COUNCIL TAS $37,700 2.12 FLINDERS COUNCIL TAS $37,500 GEORGE TOWN COUNCIL TAS $33,200 1.66 $42,600 2.13 GLAMORGAN-SPRING BAY COUNCIL TAS $51,100 2.88 $52,900 GLENORCHY CITY COUNCIL TAS $54,800 2.80 $42,700 2.19 HOBART CITY COUNCIL TAS $106,000 5.04 $64,900 3.12 HUON VALLEY COUNCIL TAS $59,600 3.46 $40,700 2.38 KENTISH COUNCIL TAS $42,700 2.28 KINGBOROUGH COUNCIL TAS $79,400 3.68 $59,800 2.79 LATROBE COUNCIL TAS $56,200 2.79 $45,600 2.27 LAUNCESTON CITY COUNCIL TAS $52,800 2.67 $41,600 2.11 MEANDER VALLEY COUNCIL TAS $54,600 2.73 $43,400 2.18 NORTHERN MIDLANDS COUNCIL TAS $47,200 2.56 $42,800 2.32 SORELL COUNCIL TAS $51,700 2.68 $47,200 2.45 SOUTHERN MIDLANDS COUNCIL TAS $46,000 2.59 TASMAN COUNCIL TAS $44,500 3.12 WARATAH-WYNYARD COUNCIL TAS $45,200 2.18 $40,900 1.98 WEST COAST COUNCIL TAS $13,000 0.47 WEST TAMAR COUNCIL TAS $56,500 2.74 $41,600 2.03 ALPINE VIC $60,100 3.32 $45,900 2.54 ARARAT VIC $37,900 2.04 $34,000 1.83 BALLARAT VIC $60,800 2.88 $45,600 2.17 BANYULE VIC $152,100 6.08 $108,600 4.39 BASS COAST VIC $70,500 3.26 $58,100 2.69 BAW BAW VIC $65,200 3.06 $50,000 2.36 BAYSIDE VIC $323,800 11.18 $148,900 5.33 BENALLA VIC $45,000 2.41 $34,300 1.84 BOROONDARA VIC $387,200 14.10 $133,900 5.15 BRIMBANK VIC $94,800 4.38 $66,100 3.08 BULOKE VIC $22,900 1.13 CAMPASPE VIC $52,500 2.67 $45,600 2.32 CARDINIA VIC $83,600 3.71 $56,400 2.52 CASEY VIC $90,500 4.06 $64,700 2.92 CENTRAL GOLDFIELDS VIC $39,200 2.25 $38,000 2.18 COLAC OTWAY VIC $59,100 2.96 $52,300 2.63 CORANGAMITE VIC $41,600 2.21 DAREBIN VIC $169,400 7.53 $84,500 3.84 EAST GIPPSLAND VIC $52,700 2.79 $44,300 2.35

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BENALLA VIC $45,000 2.41 $34,300 1.84 BOROONDARA VIC $387,200 14.10 $133,900 5.15 BRIMBANK VIC $94,800 4.38 $66,100 3.08 BULOKE VIC $22,900 1.13 CAMPASPE VIC $52,500 2.67 $45,600 2.32 CARDINIA VIC $83,600 3.71 $56,400 2.52 CASEY VIC $90,500 4.06 $64,700 2.92 CENTRAL GOLDFIELDS VIC $39,200 2.25 $38,000 2.18 COLAC OTWAY VIC $59,100 2.96 $52,300 2.63 CORANGAMITE VIC $41,600 2.21 DAREBIN VIC $169,400 7.53 $84,500 3.84 EAST GIPPSLAND VIC $52,700 2.79 $44,300 2.35 FRANKSTON VIC $91,600 4.11 $64,100 2.90 GANNAWARRA VIC $32,400 1.72 GLEN EIRA VIC $262,300 10.55 $117,100 4.88 GLENELG VIC $41,100 1.90 $30,400 1.41 GOLDEN PLAINS VIC $73,700 3.39 $54,800 GREATER BENDIGO VIC $63,900 3.08 $47,700 2.31 GREATER DANDENONG VIC $113,500 5.85 $68,600 3.59 GREATER GEELONG VIC $81,800 3.65 $62,200 2.79 GREATER SHEPPARTON VIC $48,100 2.50 $39,000 2.03 HEPBURN VIC $75,200 4.03 $58,900 3.17 HINDMARSH VIC $20,600 1.12 HOBSONS BAY VIC $139,200 5.69 $91,300 3.78 HORSHAM VIC $46,600 2.37 $42,900 2.19 HUME VIC $79,000 3.57 $64,300 2.92 INDIGO VIC $60,200 2.93 $38,900 1.90 KINGSTON VIC VIC $159,300 6.52 $99,100 4.12 KNOX VIC $134,200 5.57 $93,800 3.93 LATROBE VIC $43,900 1.82 $33,200 1.38 LODDON VIC $32,600 1.80 MACEDON RANGES VIC $103,300 4.41 $71,400 3.07 MANNINGHAM VIC $224,500 8.64 $124,500 4.90 MANSFIELD VIC $66,700 3.70 $56,900 3.17 MARIBYRNONG VIC $157,500 6.70 $84,000 3.64 MAROONDAH VIC $140,300 5.86 $94,300 3.99 MELBOURNE VIC $215,500 8.72 $101,600 4.22 MELTON VIC $73,200 3.20 $53,900 2.37 MILDURA VIC $46,600 2.47 $32,900 1.75 MITCHELL VIC $66,100 2.94 $49,900 2.23 MOIRA VIC $46,500 2.46 $37,200 1.97 MONASH VIC $213,400 9.25 $128,700 5.70 MOONEE VALLEY VIC $183,400 7.06 $95,900 3.76 MOORABOOL VIC $77,300 3.38 $53,200 2.34 MORELAND VIC $151,800 6.58 $90,000 3.97 MORNINGTON PENINSULA VIC $119,500 5.40 $79,400 3.63 MOUNT ALEXANDER VIC $77,700 4.09 $63,000 3.34 MOYNE VIC $67,700 3.51 $75,300 3.89 MURRINDINDI VIC $61,900 3.16 $47,300 2.43 NILLUMBIK VIC $148,200 5.90 $102,900 4.14 NORTHERN GRAMPIANS VIC $34,600 1.77 $32,400 PORT PHILLIP VIC $294,000 10.25 $110,600 4.01 PYRENEES VIC $42,000 2.23 QUEENSCLIFFE VIC $159,400 7.13 $102,900 4.67 SOUTH GIPPSLAND VIC $58,600 2.77 $48,900 2.32 SOUTHERN GRAMPIANS VIC $39,600 2.05 $39,900 2.06 STONNINGTON VIC $365,900 12.91 $112,500 4.18 STRATHBOGIE VIC $50,700 2.53 $39,800 1.99 SURF COAST VIC $138,300 5.91 $100,400 4.33 SWAN HILL VIC $44,200 2.44 $39,400 2.17 TOWONG VIC $41,100 2.14 WANGARATTA VIC $53,900 2.74 $39,700 2.03

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STONNINGTON VIC $365,900 12.91 $112,500 4.18 STRATHBOGIE VIC $50,700 2.53 $39,800 1.99 SURF COAST VIC $138,300 5.91 $100,400 4.33 SWAN HILL VIC $44,200 2.44 $39,400 2.17 TOWONG VIC $41,100 2.14 WANGARATTA VIC $53,900 2.74 $39,700 2.03 WARRNAMBOOL VIC $65,300 3.09 $48,200 2.29 WELLINGTON VIC VIC $49,600 2.10 $41,200 1.75 WEST WIMMERA VIC $22,600 1.39 WHITEHORSE VIC $203,600 8.41 $123,200 5.19 WHITTLESEA VIC $92,000 4.05 $68,500 3.03 WODONGA VIC $57,300 2.69 $38,900 1.83 WYNDHAM VIC $79,700 3.37 $61,300 2.61 YARRA VIC $236,200 8.74 $110,000 4.19 YARRA RANGES VIC $105,700 4.73 $81,000 3.65 YARRIAMBIACK VIC $19,500 1.19 ALBANY WA $72,600 3.53 $54,800 2.68 ARMADALE WA $73,700 2.84 $52,700 2.04 ASHBURTON WA $80,200 2.07 AUGUSTA-MARGARET RIVER WA $98,100 5.05 $69,000 3.58 BASSENDEAN WA $109,400 4.19 $81,000 3.13 BAYSWATER WA $114,500 4.31 $79,700 3.02 BELMONT WA $106,900 4.04 $81,200 3.08 BEVERLEY WA $49,200 2.32 BODDINGTON WA $52,300 1.81 BOYUP BROOK WA $35,000 1.59 BRIDGETOWN-GREENBUSHES WA $56,800 2.47 BROOME WA $92,300 4.04 $63,500 2.80 BROOKTON WA $36,700 2.18 BUNBURY WA $65,000 2.45 $56,600 2.14 BUSSELTON WA $100,900 4.48 $73,900 3.31 CAMBRIDGE WA $251,400 8.46 $66,800 2.33 CANNING WA $119,500 4.71 $85,800 3.26 CAPEL WA $79,500 3.02 CARNARVON WA $56,500 3.13 $39,900 2.22 CHITTERING WA $80,200 2.90 CLAREMONT WA $286,500 9.36 $137,200 4.61 COCKBURN WA $105,000 3.72 COLLIE WA $43,000 1.39 COOLGARDIE WA $23,600 0.67 COOROW WA $48,300 2.26 CORRIGIN WA $34,400 2.02 COTTESLOE WA $362,200 11.00 $147,900 4.67 CUNDERDIN WA $39,300 1.90 DANDARAGAN WA $67,400 2.99 DARDANUP WA $70,400 2.37 $56,800 3.14 DENMARK WA $78,900 4.33 DERBY-WEST KIMBERLEY WA $41,900 2.01 DONNYBROOK-BALINGUP WA $61,600 3.06 EAST FREMANTLE WA $249,900 8.37 $118,900 4.08 EAST PILBARA WA $55,900 1.54 ESPERANCE WA $67,100 2.98 $54,500 2.43 EXMOUTH WA $78,900 3.53 FREMANTLE WA $151,100 5.71 $117,800 4.48 GERALDTON-GREENOUGH WA $54,299 2.15 $48,800 2.48 GINGIN WA $73,400 3.71 GNOWANGERUP WA $21,000 1.04 GOSNELLS WA $83,800 3.33 $65,200 2.61 HARVEY WA $75,300 2.68 $51,500 1.84 IRWIN WA $65,700 2.53 JERRAMUNGUP WA $51,500 2.90 JOONDALUP WA $118,800 4.33 $88,700 3.25 KALAMUNDA WA $101,000 3.81 $79,700 3.02 KALGOORLIE-BOULDER WA $60,300 1.93 $48,900 1.57 KATANNING WA $36,200 1.77 KOJONUP WA $39,000 2.06 KWINANA WA $65,400 2.49 $42,500 1.63

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FULL LIST

GNOWANGERUP WA $21,000 1.04 GOSNELLS WA $83,800 3.33 $65,200 2.61 HARVEY WA $75,300 2.68 $51,500 1.84 IRWIN WA $65,700 2.53 JERRAMUNGUP WA $51,500 2.90 JOONDALUP WA $118,800 4.33 $88,700 3.25 KALAMUNDA WA $101,000 3.81 $79,700 3.02 KALGOORLIE-BOULDER WA $60,300 1.93 $48,900 1.57 KATANNING WA $36,200 1.77 KOJONUP WA $39,000 2.06 KWINANA WA $65,400 2.49 $42,500 1.63 MANDURAH WA $75,200 2.69 $59,100 3.14 MANJIMUP WA $49,500 2.64 MELVILLE WA $163,700 5.73 $114,300 4.04 MERREDIN WA $31,500 1.24 MOORA WA $32,800 1.51 MOSMAN PARK WA $255,800 9.84 $82,200 3.29 MUNDARING WA $94,000 3.56 $66,500 2.53 MURRAY WA WA $72,100 2.52 $49,400 1.73 NARROGIN WA $39,200 2.00 NEDLANDS WA $331,500 11.68 $136,300 5.00 NORTHAM WA $45,300 1.90 NORTHAMPTON WA $51,500 2.34 PEPPERMINT GROVE WA $686,300 19.71 PERTH WA $271,900 10.37 $98,000 3.89 PINGELLY WA $30,200 1.29 PLANTAGENET WA $40,600 2.13 PORT HEDLAND WA $92,500 2.52 $75,700 2.07 RAVENSTHORPE WA $38,600 1.49 ROCKINGHAM WA $78,200 2.74 $58,100 2.04 SERPENTINE-JARRAHDALE WA $86,600 3.14 SOUTH PERTH WA $189,000 6.48 $108,000 3.77 STIRLING WA $136,900 4.97 $88,100 3.23 SUBIACO WA $232,400 7.26 $109,900 3.51 SWAN WA $88,300 3.39 $70,300 2.71 TOODYAY WA $56,600 2.03 VICTORIA PARK WA $138,200 5.36 $96,900 3.79 VINCENT WA $183,300 6.81 $97,500 3.69 WAGIN WA $33,200 1.74 WANNEROO WA $86,700 3.26 $73,800 2.78 WAROONA WA $60,600 1.89 WONGAN-BALLIDU WA $33,100 1.46 WYNDHAM-EAST KIMBERLEY WA $65,200 2.76 YORK WA $61,100 2.61

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Bankwest FTB 2016 - REINSW FTB... · attractiveness of buying a home. However, a lower loan rate...

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Transcript of Bankwest FTB 2016 - REINSW FTB... · attractiveness of buying a home. However, a lower loan rate...