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Biggest money myths: finance experts reveal advice you should ignore Stephen Johnson, Economics Reporter For Daily Mail Australia © Provided by Daily Mail MailOnline logo
Forgoing your daily cappuccino from the cafe won t help you buy a house sooner - and nor will keeping your money under the bed.
Financial experts have debunked the myth that Australians can save up for a mortgage deposit sooner by giving up on little luxuries.
Buying a home with a backyard is certainly getting a lot harder with median Australian capital city house prices in February alone surging by 2.3 per cent to $723,607 - or by 4.4 per cent in just three months, CoreLogic data showed.
Forgoing your daily cappuccino from the cafe won t help you buy a house sooner - and nor will keeping your money under the bed.
Financial experts have debunked the myth that Australians can save up for a mortgage deposit sooner by giving up on little luxuries.
Buying a home with a backyard is certainly getting a lot harder with median Australian capital city house prices in February alone surging by 2.3 per cent to $723,607 - or by 4.4 per cent in just three months, CoreLogic data showed.
To get a loan, a potential borrower needs to save up at least $150,000 to cover a 20 per cent deposit and state government stamp duty.