IT’S now taking home buyers longer than ever to scrape together enough money for a deposit on a first home.

Research for Bankwest reveals the average time is now 4.4 years compared to 4.2 years just 12 months ago.

With growing property prices the average amount required for a 20 per cent deposit had hit $103,600.

The findings could explain why there were substantially fewer first home buyers in Australia in 2016 – 13.4 per cent of all buyers – compared to 2009 when they made up 28.8 per cent of the buying pool.

It is now taking first home buyers longer to save a deposit on a median priced house in every state and territory, except Western Australia, than it did at the same time last year.

Median house prices in Western Australia have suffered a battering in recent years as a result of the resources slow down.

The latest CoreLogic housing index report, released in December, showed median house prices had dropped by 5.9 per cent in Perth in the year to date.

First time buyers in Sydney spent longer trying to scrape together a 20 per cent deposit than any other capital city.

In Sydney the average time was 8.4 years, Melbourne, 6.2 years, the ACT, Brisbane and Darwin 4.3 years, Adelaide four years, Hobart and Perth 3.8 years.

On a state basis it took longest in New South Wales, 5.7 years, Victoria 4.7 years, the ACT and Northern Territory 4.3 years, Queensland four years, South Australia, 3.6 years and Tasmania 2.8 years.

Bankwest executive general manager, retail, Andrew Whitechurch said low interest rates, sluggish wage growth, and rising property prices were making it harder for first time buyers to get into the market.

“While lower interest rates are beneficial for those who already own their homes in the form of lower loan repayments and interest, they can also bring more buyers into the market and this drive up house prices, making home ownership less affordable for first time buyers.”