Eight years to save a deposit for a Manly apartment

Eight years to save a deposit for a Manly apartment
Eight years to save a deposit for a Manly apartment

It takes around eight years to save to buy an apartment in Manly, often referred to as seven miles from Sydney and 1000 miles from care.

Now the northern beaches suburb has become the priciest entry point for first time apartment buyers.

It takes the average person eight years and five months to save for a deposit, according to Domain's latest data.

Manly's $890,000 entry point is the highest across the country. 

It's overtaken the pricey northern part of the Eastern suburbs, having seen its YoY deposit saving time get shorter by four months, compared to the Northern Eastern Suburbs area which has sped up seven months.

 Eight years to save a deposit for a Manly apartment

In Melbourne, Bayside ranks as the area where it takes the longest to save for an apartment.

Its $570,000 entry price is the only area in the state where the entry price is over $500,000.

It takes around five years and nine months to save for an apartment, down from its six year time estimate last year. 

Eight years to save a deposit for a Manly apartment

 

 

Tags: 
Manly Apartment Market

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