13 ms·
7.27
by aembleton 5y ago
7.27
- bamboozled 5y agoThere's absolutely no way a person an an average income could buy a home in Australia and pay it off in 7.27 years. Those figures are totally wrong. Many people would be lucky to save for a deposit on a place in 7.27 years.
- 988747 5y agoThat's not what this statistic means. It means that if you spent 0 dollars and saved all your income you would need 7.27 years to buy a house. In practice you need a mortgage, of course. But now think how bad this gets when a house price is your 40 years worth of income...
- nostrebored 5y agoThis view is detached from reality. Not every house is in the eastern suburbs of Sydney and lower quartile income in Australia is extremely high.
- bamboozled 5y agoI could buy a house at the end of a run way for cheap, or in a desert, but no one wants to live there.
- nostrebored 5y agoThere are 80 two bedroom properties for sale right now in the inner west of Sydney that line up to less than 12 years of minimum wage salary at recommended prices.
- bamboozled 5y agoHow much do they cost ?
- AussieWog93 5y agoAs someone else pointed out, these are national averages (Sydney/Melbourne are far higher than this). It's also a simple measure of income to property price, and not indicative of how long it takes to be pay off a mortgage.