Homebuyers in their 20s fork out R90k for a deposit

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Cape Town - It takes at least two years of diligent saving for homebuyers in their 20s to cough up an average deposit of R92 000, according to statistics from BetterBond.

The bond originator's data represents 25% of all residential bonds registered in the Deeds Office.

“Our figures show that the average first-time buyer earns around R37 000 a month, and assuming that they are able to save 10% of that, a R92 000 deposit would take 25 months to accumulate," said CEO Shaun Rademeyer.

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