The challenge for home buyers - Is it harder now than in the past?
The challenge for home buyers _ Is it harder now than in the past?
The challenge for home buyers – Is it harder now than in the past?
It sure is!
So, when your parents tell you it was harder for them in the good old days, well I say in relation to buying a house, not so much.
The numbers back me up.
Average house price in Sydney back in the late seventies was around $43,000 which was 2.98 the average salary of the time. Some 40 years later the average house price in Sydney is around $850,000 and the average salary multiple is 6.41.
It’s a similar story all around our great country.
Let’s look at Hobart in the late 70’s the average house price was $31,575 which was 2.19 the average salary. Forty years later the average house price is around $366,000 which is 6.76 times the average salary. Yep that’s right its three times more expensive now than back in the days of disco.
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