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First home buyers still struggling, despite affordability remaining stable

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Australian Broker | 04 Sep 2014, 05:49 AM Agree 0
​Housing affordability across Australia remained relatively steady in the June quarter, however first home buyers are still falling behind
  • Melb Broker / Ex Agent | 04 Sep 2014, 11:04 AM Agree 0
    First home buyers will always continue to struggle with the huge gaps there is now between property values and wages.... 30 years ago the average annual salary was around $15,000p.p & the average home in a good area of Melbourne was anywhere between $30,000 - $40,000....Today average annual wages are around $60,000p.p & average median price home is around $550,000.....the gaps just too far for most to make.

    I would encourage more & more first home buyers to team up with Siblings to get there foot in the door and start somewhere and pay off your own mortgage rather than a shared rental house scenario and paying off anothers.
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