![]() They are backed up by the data, which shows that house pries in comparison to incomes were significantly cheaper 34 years ago than in 2023 - even though the current 11-year high cash rate of 3.6 per cent is low by historical standards.Ī median-priced Sydney house currently selling for $1,217,308 costs 10.4 times an average, full-time salary of $94,000, for a buyer with a 20 per cent deposit.īut in 1989, the equivalent home in Australia's most expensive capital city was priced at $170,850 - just five times the average $26,874 salary after the mortgage deposit. In recent interviews with Daily Mail Australia, both Aussie Home Loans founder John Symond and AMP Capital chief economist Shane Oliver agreed that it was 'easier' to purchase when they were younger. ![]() The Reserve Bank hiked interest rates for the 10th month in a row last week, prompting many older Australians to recall their own struggles, when rates hit 18 per cent in 1989. ![]() ![]() Prominent baby boomers who had huge success in business have admitted they had it a lot easier than the younger generation when it comes to buying a house. ![]()
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