The size the average house deposit is drifting further and further out of reach of first home buyers.

Average home prices rose 0.7 per cent in January, with the strongest gains in Hobart (1.4 per cent), Sydney (one per cent) and Melbourne (0.8 per cent), according to the CoreLogic Hedonic Home Value Index. National house prices rose 10.7 per cent in the year to January, taking the median…