SYDNEY AFFORDABLE HOUSING CHALLENGE

Debate rages across the country, as experts and analysts go back and forth
over the idea of an affordable housing crisis in Australia. One area that all
experts can agree on, however, is that Sydney is in a league of its own
when it comes to property prices. Sydney comes in second to Hong Kong
as having the least affordable housing in a survey of 10 major metropolitan
markets.
The Guardian Australia reported figures from SIS Oxford economics
showing that, as of December 2016, 42% of average disposable household
income in New South Wales was being poured into monthly mortgage
payments. This is on a median-priced house in Sydney, after the sizeable
25% deposit has already been paid.