Victorian housing affordability: Time it takes to save for a Victorian home deposit falls from seven-year peak

PropTrack’s affordability report found a typical Victorian household needed about six years to save a deposit on a $700,000 home, down from nearly seven years at the 2021 peak. Only around 13 per cent of listings were within reach for households on $120,000. Economists credited Victoria’s strong construction rate and flat prices, and expected further improvement if the Reserve Bank began cutting rates.