The Aussie cities where it's easiest to save up for a home deposit
Australia's spiralling housing crisis has put increasing pressure on both renters and homebuyers.
Amid the challenging conditions, new data from Mortgage Broker has found the capital cities where saving up for a house deposit is the most achievable.
8. Brisbane
Brisbane is the most difficult city to save for a home deposit with an affordability score of 5.77 out of 10.
Despite a relatively lower weekly rent of $630 and a weekly salary of $1,845, high cost of living and expensive transport leaves residents with only $72 to put away each month.
7. Sydney
Unsurprisingly Sydney has an affordability score of 5.87 out of 10.
Residents typically earn around $1891 per week but fork out 39.65 per cent of their on rent.
This leaves Sydneysiders able to save just $74 a month.
6. Adelaide
Adelaide has an affordability score of 7.15.
Residents take home a slightly lower weekly wage of $1735 but only 34 per cent of their income goes towards rent.
People spend about $100 less a month on public transport compared to Sydney and Brisbane.
4. Canberra
Canberra has an affordability score of 7.23 out of 10 with residents able to save around $82 a month.
Weekly wages are also higher at $2088 and average rent is about $690.
4. Darwin
Darwin shares equal ranking with an affordability score of 7.23 out of 10.
In the Top End rent-to-income ratio is the highest at 36 per cent, meaning residents spend the largest portion of their income on rent but are able to save $72 a month thanks to lower transport costs.
3. Hobart
Hobart ranks third with an affordability score of 7.38 out of 10.
Residents spend an average of $86.23 per month on public transport and 32 per cent of their weekly income on rent making the city more affordable than places like Sydney.
2. Melbourne
Melbourne recorded an affordability score of 7.75 out of 10.
About 35.6 per cent of residents already hold mortgages and rent consumes 31.2 per cent of a Melburnian's average income.
1. Perth
Perth is Australia's most affordable capital city to save for a deposit, with an affordability score of 8.56 out of 10.
The city has the highest average weekly salary at $2108 and the lowest rent-to-income ratio of 30.85 per cent.
Residents are able to save $82 per month based on 1 per cent of their disposable income.
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