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1.Market Observations, 8.Was Sticky

22 Dec 2016 (AFR) – Housing affordability shaping up as key issue for 2017

(22 December 2016, AFR, p11, by Matthew Cranston)

‘The inability of Australians to afford their own home is shaping as one of the most contentious political issues of 2017 as new evidence shows house prices are growing increasingly out of line with people’s incomes. A new report from CoreLogic, a real estate data firm, and the Australian National University shows that it took 139 per cent of a household’s annual income in September 2016 to scrounge a 20 per cent deposit for a home, up from 86 per cent of a household’s income in September 2001. In Sydney, the proportion of household income required for that 20 per cent deposit has jumped to…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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