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Dont forget also about a little thing called "urban in-fill".... whereby that house your grandparents have which they just sold for $1million, is subdivided and developed as either a bunch of townhouses or apartment block.... thus providing housing to MULTIPLE families instead of just one, and...

You forgot how much he will whinge about housing being unaffordable, because what he COULD have afforded 10 years ago will now be totally unaffordable for him, and he has to move to a less desirable area to be able to buy what he can afford. In the meantime, I will now be living on the northern...

keithj - kudos to you buddy. You just explained what i was trying to explain, but much betterer :p It's funny how much the D&G crowd spouting the "house price vs income ratio" being out of control totally forget this point we are making..... its a FUNDAMENTAL point!!

But you are still missing the point. In the space of 10 years, the location of the "average first home buyers home" has MOVED further away from the CBD... and it will continue to do so over time, as the city naturally grows and centrally located property becomes more valuable. So what is the...

Graemsay - your maths is fine, however your statistical sampling is incorrect. You are using incorrect input data to create your assumptions. You forgot the most FUNDAMENTAL POINT of this whole argument - you cannot look at the same house, whilst using NEW input variables. IE: the "average"...