Average home loan deposit tops $100k

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FIRST HOME BUYER LOANS

State/territory, average loan amount, deposit, increase since 2019

* ACT: $471,161 ($117,790) 24 per cent

* NSW: $513,876 ($128,469) 23 per cent

* NT: $400,000 ($100,000) 20 per cent

* Tasmania: $325,751 ($81,438) 17 per cent

* Victoria: $452,369 ($113,092) 16 per cent

* WA: $371,048 ($92,762) 14 per cent

* Queensland: $383,136 ($95,784) 13 per cent

* SA$342,840 ($85,710) eight per cent

* National Average: $426,971 ($106,743) 16 per cent

Source: Finder, ABS loans data. Assumes a 20 per cent deposit.

HOW TO CRACK THE MARKET:

* CONSIDER 'RENTVESTING' - Buy in an affordable area, rent to live in a desirable locale. If metro prices are out of reach, invest in a regional location.

* GO IN WITH FRIENDS OR FAMILY - Split the purchase price with friends or relatives. It's major financial and legal commitment, so consulting a solicitor is recommended.

* FIND A GUARANTOR - Someone who can provide additional security if there's a deposit shortfall. Beware, though, guarantors are also liable for repayment defaults.