First time homebuyers take an estimated two years to save up for a property deposit based on research presented by the Real Estate Institute of Queensland (REIQ).

In Queensland, the average first home buyer deposit usually represents about 12 percent of the total purchase price of their first property with 16 percent of first-timers indicating they managed to save a deposit of 20 percent or more. The most common deposit size was between five to 10 percent of the purchase price.

"Saving a decent deposit - especially in times of tighter lending criteria - is one aspect of home buying that continues to take both time and commitment and today's first home buyers are prepared to make that commitment," REIQ managing director Dan Molloy said

"The REIQ research found that on average Queensland first home buyers are saving for 21 months for a deposit and about 35 percent of first-timers are actually saving for more than two years before approaching a lender for finance."

The research also found that the most common age range for Queensland first home buyers was between 26 to 35 years who had a combined household income of $80,000 to $100,000.

"First home buyers are also doing plenty of research with many often spending more than four months searching online listings and visiting open homes in their quest for their first property," Molloy said. "The number of first home buyers in the Queensland market is gradually starting to strengthen after hitting historical lows last year and we expect their numbers to increase further this year as interest rates and prices have stabilised."

One third of potential first home buyers say it is their inability to service a mortgage that is the main barrier to home ownership. The next factor preventing many from buying their first home is the current level of property prices.

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