Affordability Down the Drain in Sydney

The June Property Market update by Residex shows some alarming figures for house affordability across Australia and Sydney as would be expected is the least affordable.  But more alarming is that after tax income for the median family earning median income and purchasing a median house at 80% LVR shows a net after mortgage income of only $821 per week.

Meanwhile the report also shows that Brisbane despite being a long way behind by comparison to Sydney and Melbourne over the last 12 months, is still performing and in fact in May showed better growth than both the of the bubble capitals.  Surprisingly Brisbane’s Greenbank region around Logan has shown a massive 19% capital growth in the 12 months – albeit coming off a very low base the rental yield of 4.83% is one of the best metropolitan returns in Australia.

 

 

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