Housing Affordability in Australia

[MichaelW]

Here we go, on the topic of housing affordability in Australia:

Homes most affordable in five years

"For would be first home buyers, conditions have improved significantly and clearly many Australians are taking up the opportunity to get into home ownership,'' Mr Lamont said in a statement. "Cuts with interest rates and the first home owners grant have made a large impact.''

*edit*

Households would need an income of around $70,000 to buy a modest home, the report said.

"Previously, a household would have to be earning in the order of $85,000 to afford a modestly priced home without going into severe mortgage stress,'' Mr Lamont said.

"The improvement in housing affordability means those on a more modest income can now contemplate a home of their own.''

Message of the article: Got $70K pa in income? Go buy a home...

Cheers,
Michael

 

[essence]

Here we go, on the topic of housing affordability in Australia:

Homes most affordable in five years



Message of the article: Got $70K pa in income? Go buy a home...

Cheers,
Michael

Same thing from news.com

http://www.news.com.au/business/money/story/0,28323,25060683-14327,00.html


"Homes most affordable in five years."

"Households would need an income around $70,000 to buy a modest home, the report said."

"Previously, a household would have to be earning in the order of $85,000 to afford a modestly priced home without going into severe mortgage stress,'' Mr Lamont said.

"The improvement in housing affordability means those on a more modest income can now contemplate a home of their own.''

I translate to those who did not get it - two incomes of $35,000 make $70,000.