Longer and bigger savings for home deposit

IT has always been hard to save a deposit for a home loan, but a home deposit today requires more savings over a longer period.

RESERVE Bank governor Glenn Stevens says it has always been a struggle to get into the housing market.

"IT was for me, it was for all of us here," Mr Stevens said, gesturing to the three senior central bank employees sitting beside him at his six-month grilling by politicians in Canberra.