Australia’s Housing Crisis: $300,000 Income Required to Afford Mortgages

‘The crisis is not merely one of numbers but of societal values, as the housing market becomes a fortress for the rich,’ said a report by Suburbtrends.

A general view of properties at North Lakes in Brisbane, Australia, on June 10, 2016. Glenn Hunt/Getty Images

A new study has revealed the harsh reality of housing affordability in Australia, as an average household needs to earn over $300,000 (US$197,000) a year for house prices to be considered “affordable.”

Suburbtrends, a real estate data firm, released a new report analysing 22,000 property sales across Australia in October 2023.