Melbourne housing affordability plummets, women hit hardest

The price of a typical house in Melbourne has multiplied by 22 in the past 40 years, almost four times faster than wages, with advocates warning that women were bearing the brunt of the affordability crisis.

Analysis by social research firm McCrindle shows the gap between booming house prices across Australian capital cities and the earning capacity of workers is huge and growing.

Melbourne property prices increased the most since 1981, while Sydney has remained the most expensive housing market overall.

McCrindle founder Mark McCrindle said the rise in two-income households had boosted relative borrowing power for some families, but this had also widened a social divide.

Read More

Additional reading

News category: News Shorts, World.

Tags: ,