Australians are the third wealthiest in the World

That table reveals the median rent in 1981 to have been about $46 a week. Definitely less than $49 a week. The median house price in 1981 was $54,550 (Stapledon) and the standard variable mortgage rate was between 11.5% and 12.5%, say 12%. So the interest cost on the median house in 1981 was $126 a week. Therefore the interest cost for a median house in 1981 was 2.7 times the median rent. What is the median house interest cost to median rent ratio today? Residex say the median rent for Australia is $355 a week for houses and $350 a week for units. What’s the median house price? $450k?… Read More

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