First home buyers are now looking at 10 percent more savings for a deposit to be made on a housing prospect while husbands and wives need to save up at least $85,000 for a mere median-priced house unit when it used to cost only $78,100 from a year earlier.

These are the prospects that would face home hunters as housing affordability took a turn for the worst during the past year, according to a report by the Bankwest Retail, which also showed that it may take at least four and a half year to set aside the amount needed for a 20 percent house deposit.

A previous report last year set the period to only 3.7 years as Bankwest said that the housing conditions in expensive cities such as Sydney, Melbourne and Perth were not any better as prospective home buyers would require a decade of savings in order to gain entry in the property market of the areas' 26 local governments.

The new report, however, was somewhat encouraging for first home buyers looking for a median-priced unit as they would only need to come up with $76,900 for a deposit, which should have been accumulated in four-year time.

Bankwest Retail chief executive Vittoria Shortt said that a strong Australian property sector was laying down a dismal reality for an emerging group of first home buyers - they are being locked out from the market as the more established property owners, flushed with disposable cash, were gobbling up the available housing units.

Ms Shortt said that "such is the stark reality of a strong Australian property sector."

Home hunters looking to obtains loans though may get some form of relief from the Reserve Bank of Australia (RBA) as its board is set to meet on Tuesday.

As widely believed, the country's central bank may opt for a pause this July and maintain the cash rate's present 4.5 percent status, as it temporarily swings its concerns on Europe's debt crisis worries and may be blindsided from concerns of domestic inflation.