http://www.smh.com.au/news/national/now-its-easier-to-buy-a-house/2006/01/12/1136956303478.html
“A survey by the Housing Industry Association and the Commonwealth Bank has found mortgage repayments represented 36.7 per cent of the average Sydney home-owner’s income.
The median price for first-home buyers has also dropped by more than $22,000 over the past year to $434,500, according to the December-quarter 2005 survey.”
Very amusing that the article sits on the fence…
“But the Australian Consumers Association has cautioned against relying on analysis from banks. The association’s financial policy officer, Nick Coates, said he was worried that interest rates would again rise and borrowers were getting “over their heads“.
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