New data from Canstar reveals that couples must now both earn six-figure salaries to afford a home in the majority of Sydney areas. The report highlights the soaring house prices in popular suburbs like the eastern suburbs, north shore, and inner west, where median prices exceed $2 million. Even Parramatta, considered more affordable, has a median house price above $1 million.
Couples must now both earn six-figure salaries to afford a home in the majority of Sydney areas, new data from Canstar has revealed. The average Australian salary is just over $100,000, according to data from the Australian Bureau of Statistics . Sydney ’s eastern suburbs have a median house price of almost $4,000,000, while the north shore, northern beaches, inner west and Ryde all clocked in with median house prices over $2,000,000.
Sydney’s Sutherland area has a median house price of $1,677,500 — or a 20 per cent deposit of $335,500 — so requires a single income of $290,000 or dual income of $134,000 each. Sydney’s inner south west has a median house price of $1,555,000 — or a 20 per cent deposit of $311,000 — so requires a single income of $268,000 or dual income of $126,000 each.
Sydney Housing Market Affordability Salaries House Prices
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