This is how much you need to earn to buy a house in 2024

The average household income of home buyers has increased to $220,000, a nearly 40 per cent jump from just four years ago.

Almost a third of all home loan applicants now make more than $200,000, at the expense of those less than $150,000, Jarden analysis of Commonwealth Bank data shows.

The average full-time annual income in Australia is $98,098 as of November 2023, based on Australian Bureau of Statistics' weekly earnings figures.

The average buyer in 2019 had a household income of $160,000.

Jarden chief economist Carlos Cacho said the analysis raised troubling questions about who can afford to buy a home in Australia, despite recent price falls.

"What we've seen over the last four years or so is that the share of buyers who make median or below income has decreased from 30 per cent to 18 per cent," he said. "It's really been hollowed out. Part of the increase has been due to income growth being relatively strong but even when you adjust for that the shift is well and truly beyond that."

To know more : https://www.nine.com.au/property/news/this-is-how-much-you-need-to-earn-to-buy-a-house-in-2024/4270fa8f-99e2-427e-b5ca-f2681b881f34

Comments

Aboriginal people feel Labor isn’t listening to them after voice defeat, Uluru statement co-author says

One of the architects of the Indigenous voice to parliament says Aboriginal Australians increasingly feel the government isn’t listening to their views on laws and policy design, warning against closed-shop public consultations in the wake of the referendum defeat. Megan Davis, a constitutional scholar and signatory to the Uluru statement from the heart, said the re-elected Albanese government was facing growing displays of discontent and needed a new approach to improve the lives of Aboriginal and Torres Strait Islander people. Davis said Indigenous policy frameworks were failing and engagement with government was subject to growing “exclusivity”. “They consult only those who have contracts with them, or are enlisted in the Closing the Gap ‘partnership’, so to speak,” she told Guardian Australia. To read more, click here- https://www.theguardian.com/australia-news/2025/may/27/labor-aboriginal-people-voice-reconciliation-week

Sydney’s Palace Verona Cinema in Paddington shuts doors as Palace Moore Park opens in Entertainment Quarter

A popular Sydney cinema has closed the curtain on its final screening, marking the “end of the road” for the Paddington institution after 27 “cherished” years. Palace Cinema’s Verona Cinema on Oxford St has officially shut its doors and thanked the community for its support over the years. Verona held its last screening, Aki Kaurismäki’s tragicomic romance Fallen Leaves, at the weekend. “And it’s the end of the road for the Verona,” independent Australian and New Zealand film distribution company Palace Films wrote on X (formerly Twitter). “Doors are closed and glasses have come out to raise a toast to the old gal. “Thanks Paddington, and thanks Sydney. xox” The Oxford St building Verona called home for more than two decades sold in 2021, with the space to be transformed into a multi-storey office development featuring new retail and rooftop dining. To know more : https://7news.com.au/news/sydneys-palace-verona-cinema-in-paddington-shuts-doors-as-palace-moore-park-opens-in-enterta...

What you do on the weekend could be ruining your sleep, experts reveal

Everyday Australians living with a newly-identified sleep health concern could have no idea they're suffering from it. Research from Flinders University has revealed that the severity of Obstructive Sleep Apnea (OSA), a common condition caused by repeated airway collapse during sleep, increases significantly on weekends. This phenomenon may be linked to late nights, sleeping in, alcohol and smoking on weekends, leading FHMRI Sleep Health experts to dub it 'social apnea'. Know more, by visiting on this website- https://www.9news.com.au/health/social-sleep-apnea-linked-weekend-late-nights-alcohol-smoking/ab3c869f-71ef-4a6d-8938-3a99f0948fa5

The Australian Daily Times

Search This Blog