Like many first home buyers, Sydneysider Alex Graham-Vilo is daunted by rising property prices – up 8.3 per cent year on year across the country says CoreLogic, with capital city increases ranging from 2 per cent to 22 per cent.

In Sydney, the median property price of $1.16 million means buyers need a deposit of $232,000. While median prices across Australia’s other capitals are lower – ranging from $843,000 to $502,000 – coming up with a deposit of between $100,000 and $169,000 is still no easy feat.