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Australia: Home buyers priced out of capital cities

Posted on 14 December 2012

Despite the two-year old property slump, buyers continue to struggle to find homes for less than $500,000 in the inner suburbs of many of Australia’s largest cities. That price threshold, which is more than nine times average yearly earnings, puts housing in the inner parts of Sydney, Melbourne, Darwin and Canberra all but out of reach, new research shows.
The country’s continuing problem with affordability comes despite capital city house values falling 0.4 per cent this year on the back of a 4 per cent decline in 2011, according to RP Data………………………………………..Full Article: Source


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