Housing, page-1455

Australian property still 'severely unaffordable'

Despite recent falls, Australian property by almost any international or historical comparison is still very expensive.

Back in the 1980s and early 1990s, Australians could buy an average home for two to three times their average annual household income after tax.

Today, it's between five and six times.

All Australia's five major markets are considered "severely unaffordable" but the problem is most acute in Sydney and Melbourne.

https://mobile.abc.net.au/news/2019-03-21/property-prices-to-fall-under-labor-proposed-plans-study-says/10924650?section=business