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Median income in Melton is somewhere around $46k a year. Without knowing the area I'm assuming you've cherry picked an example in the lower price bracket. So if you're on the median income in Melton it will cost you over 6 times your annual salary to buy a house in the lower price bracket...

Yeah I suppose a doctor in Sydney could afford a fibro hut in Brewarrina. On average though, house price growth has outstripped wages. RC

I was a first home buyer on a low income and the house that cost 3 times my salary was a small but comfortable three bedroom house in a reasonable area. What does 3 times the median wage get you now in any given area ? A block of land maybe. But...but.. they could still afford a tent...

Let me put it another way. Say 10 years ago x% of my salary in a particular occupation would buy me a new Holden Commodore. Same occupation today x% of my salary only buys me a secondhand Datsun 180B. So I can either buy a Datsun 180B or I can send my Wife to work and between us we can get a...

Ahh so property is still affordable as long as you send your wife to work, have no kids, live in a less desirable area and cut back to two meals a day. You've just proven that property is less affordable and these are the symptoms. RC

So by your reasoning you should still be able to buy a house for 3 times the salary provided you lower your expectations? 3 times the current salary would only buy the land in an outlying area now. RC

It amazes me that seasoned property investors (of which I am one) will gladly accept that we have seen tremendous growth over the last decade but then try and deny that this growth has created affordability issues for those starting out. When I bought my first house in 2000 it cost 3 times...