Single Aussies almost completely priced out of the housing market 

Young single Aussies looking to buy a home have been almost completely priced out of the market in six of Australia’s capital cities.
A measurement of official house price data and mortgage costs by comparison website RateCity found that the average income earner would only be able to buy a median-priced house on their own in Adelaide and Hobart.
“Our analysis reveals a reality that many young Australians are now living; the impossibility of affording a median-priced house on an average salary in most capital cities,” Mr Arnold said.
“Without a partner or family member to share mortgage costs with, the numbers paint a grim picture for millennials, many of which may be squeezed out. Even as part of a couple, east coast property prices are out of reach for many Australians,” RateCity data insights director Peter Arnold told Domain.

Sydney 

Loan Size: $660,000

Monthly Repayment: $3,439

Monthly Income Needed: $11,463

Annual Income Needed: $137,556
Melbourne
Median House Price: $580,000

Loan Size: $464,000

Monthly Repayment: $2,418

Monthly Income Needed: $8,059

Annual Income Needed: $96,706
Brisbane
Median House Price: $485,000

Loan Size: $388,000

Monthly Repayment: $2,022

Monthly Income Needed: $6,739

Annual Income Needed: $80,866
Adelaide
Median House Price: $435,000

Loan Size: $348,000

Monthly Repayment: $1,813

Monthly Income Needed: $6,044

Annual Income Needed: $72,529 
Perth
Median House Price: $520,000

Loan Size: $416,000

Monthly Repayment: $2,168

Monthly Income Needed: $7,225

Annual Income Needed: $86,702
Hobart
Median House Price: $356,500

Loan Size: $285,200

Monthly Repayment: $1,486

Monthly Income Needed: $4,953

Annual Income Needed: $59,441 
Darwin
Median House Price: $570,000

Loan Size: $456,000

Monthly Repayment: $2,376

Monthly Income Needed: $7,920

Annual Income Needed: $95,039
Canberra
Median House Price: $586,300

Loan Size: $469,040

Monthly Repayment: $2,444

Monthly Income Needed: $8,146

Annual Income Needed: $97,756
Source: RateCity analysis, using ABS house price data. Monthly repayment assumes borrowing of 80%, household income is amount required to pay 30 per cent or less on housing.
http://www.fox.com.au/news/feed/2016/9/this-is-how-much-a-single-person-needs-to-earn-to-buy-a-house-in-australia/

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