The Age 25 Nov 2009
http://www.theage.com.au/business/we-can-pay-more-for-homes-rba-20091125-jp4z.html
" RBA deputy governor Ric Battellino said that Australian households appeared to have the capacity "to sustain a relatively high ratio of housing prices to income"
and
"On plausible assumptions, the deposit needed by first-home owners may now be around one and a quarter years' income, almost twice what it was 15 years ago."
The proportion of people who owned their homes outright has fallen from 42 per cent in 1994-95 to 33 per cent in 2007-08, the Australian Bureau of Statistics said this month, while the amount owing on homes had doubled to $150,000 and the median home value had doubled to about $400,000.
http://www.theage.com.au/business/we-can-pay-more-for-homes-rba-20091125-jp4z.html
" RBA deputy governor Ric Battellino said that Australian households appeared to have the capacity "to sustain a relatively high ratio of housing prices to income"
and
"On plausible assumptions, the deposit needed by first-home owners may now be around one and a quarter years' income, almost twice what it was 15 years ago."
The proportion of people who owned their homes outright has fallen from 42 per cent in 1994-95 to 33 per cent in 2007-08, the Australian Bureau of Statistics said this month, while the amount owing on homes had doubled to $150,000 and the median home value had doubled to about $400,000.