Australians need to earn $300,000 a year to afford their own home

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Australians now need to earn over $300000 per year to comfortably afford to buy their own home, according to new housing data.

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Suburbtrends analysed over 22,000 property sales throughout October this year and found that median house prices were nine times the average annual income.

The report used the internationally recognised ”median multiple” to rate affordability – which is where a market’s median house price is divided by the gross median household income.

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