Smarter property choices and deposit strategies can fast-track home ownership in Sydney
Choosing the right property type and deposit strategy can significantly shorten the path to home ownership in Sydney.
Domain data shows a couple aged 25–34 would typically need about 7 years and 7 months to save a 20% deposit for an entry-priced house in Sydney. Choosing an entry-priced unit instead reduces that timeframe to roughly 4 years and 5 months, allowing first home buyers to enter the market about 3 years and 2 months sooner.
Deposit schemes can accelerate this timeline even further. Domain’s analysis shows that aiming for a 5% deposit instead of 20% can shorten the saving period by about 5 years and 7 months for entry houses in Sydney, and 3 years and 3 months for entry units.
Programs such as the federal 5% Deposit Scheme and Help to Buy aim to lower upfront barriers and improve serviceability, helping eligible buyers access the Sydney property market sooner and move closer to home ownership.
About the author – Alex Veljancevski is a Sydney Mortgage Broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.