This is a great article relating to borrower deposit perceptions in Australia from MPA Magazine.

CoreLogic housing affordability survey finds huge concern over deposits but large gaps in knowledge

58% of Australians are unaware that banks will lend above 80% LVR, a CoreLogic survey has indicated.

Only half of those surveyed were aware of stamp duty concessions for first home buyers, 29% knew banks’ lending to investors is limited and just 25% understood that overseas buyer can only buy new properties. One-quarter of all Australians were unaware of any of these four factors which could help them afford a home.

35% of non-homeowners believe they could afford a deposit of up to 9%, CoreLogic’s Perceptions of Housing Affordability report found. It’s possible therefore these consumers have been put off buying in the mistaken belief a 20% deposit is essential.

The lack of awareness of stamp duty concessions mattered because stamp duty was along with deposits the joint biggest impediment to being able to afford property, selected by 44% of respondents. CoreLogic found that stamp duty and deposits were the biggest impediments ahead of interest rates, loan approval and lenders mortgage insurance.

From July, stamp duty will be abolished for first home buyers purchasing a property valued below $600,000, the Victorian Government announced in March. New South Wales and Queensland have stamp duty concessions for properties valued below $500,000  and $550,000 respectively. WA first home buyers who are eligible for the state’s First Home Owner Grant also can access a concessional stamp duty rate.

Concern about affording a deposit was highest in Queensland and lowest in the Australian Capital Territory. Concerns about stamp duty were highest in NSW and SA/NT and lowest in Victoria.

CoreLogic also found growing interest in ‘rentvesting’: 14% of non-home owners would definitely buy an investment property first, whilst a further 27% would consider it. At present, however, just 4% of non-homeowners surveyed by CoreLogic already owned an investment property.