Average Home Loan Deposit Exceeds $100,000
The barrier for first home buyers tops six figures.
By Terry Christodoulou
Tue, Apr 13, 2021 11:58am
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As record-low borrowing costs, stimulus payments and low stock levels send home prices to unprecedented heights, the average deposit required by first home buyers has topped $100,000.
Recent Australian Bureau of Statistics data has revealed the national average deposit needed to secure a mortgage is no $106,743, a 16% increase from January 2019, and the first time in Australia’s history the average deposit has exceeded $100,000.
The ACT had the largest house deposit increase since 2019, with the upfront amount required surging by 24 per cent to 117,790. NSW was just 1% behind at 23% for an average of $128,469.
The average deposit in Tasmania has climbed by 17% to $81,438 while Queensland (13%) and Western Australia (14%) sit at $95,784 and $92,784 respectively.
South Australia is the only capital city offering stable first home buying conditions with an 8% increase since 2019 to $85,710.
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The desert residence belonged to the singer, who also served as mayor of the California city, for more than a decade.
By Liz Lucking
Wed, Dec 17, 2025 < 1 min
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Sonny Bono’s former estate, a piece of local history in Palm Springs, California, has come up for sale.
The desert residence, on the market for $7.49 million, was home to the singer, songwriter, congressman and Palm Springs mayor from 1986 until his death in 1998, records show.
“Opportunities like this simply do not come around often,” said listing agent Louise Hampton with Berkshire Hathaway HomeServices California, who brought the home to the market last month.
“A hillside estate of this size, with this level of privacy and this historical connection stands among the most compelling offerings in today’s desert market.”
Bono was perhaps most famously the other half of singing duo Sonny & Cher, but also served as the mayor of Palm Springs from 1988 to 1992, and as the U.S. representative for California’s 44th district from 1995 until he died in a skiing accident in 1998 at the age of 62.
Located in the city’s Mesa neighbourhood on a hillside parcel, the colourful seven-bedroom property combines Mid-Century Modern design with Italian influences across its almost 9,000 square feet and multiple structures.
The house last changed hands in 2021 for $4.35 million. The sellers couldn’t be reached for comment.
There’s a great room, a formal dining area with a rock fireplace, a chef’s kitchen with two wine fridges.
The seven bedrooms include a primary suite with a walk-in closet and a “spa-style” bathroom with a soaking tub and steam shower, according to the listing. Several of the home’s guest suites include private patios or separate entrances.
Outside, there are lawns, olive trees, date palms and cacti alongside terraces, a new travertine pool deck, a pool, a tennis court and an oversize motor court with space for more than a dozen vehicles.
