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Australia: House price ‘plateau’ still out of reach for most

Posted on 09 July 2012

A recent COAG report found that only 24 per cent of properties for sale in Sydney, 48 per cent in Melbourne and 17 per cent in Brisbane were affordable to households on the lowest 60 per cent of incomes in those cities.
That means in Sydney for example, 60 per cent of households are competing for the 24 per cent of properties they can reasonably afford. That calculation is sensitive to movements in interest rates, but interest rates would have to move significantly to get those numbers in balance………………………………………..Full Article: Source


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