Exclusive: PBO report based on wage growth, house prices and rent rises says nearly a decade needed if 20% of gross income is put aside
Get our breaking news email, free app or daily news podcast
It could take almost a decade for the average Victorian renter who puts aside 20% of their gross income to save enough money for a home deposit in 2035, according to analysis from the state’s independent Parliamentary Budget Office.
But if rents were to increase in line at the historically high rate seen in 2022 and 2023, the time needed to save for a deposit could blow out to over 65 years.
Sign up for Guardian Australia’s breaking news email
About Author
More Stories
Paris trials dedicated car-sharing lane on its notoriously congested ring road
Russian state propagandists overjoyed at Anora’s Oscar triumph
At least two dead after car driven into crowds in German city of Mannheim