Buying a home getting tougher for many Australians

The Great Australian Dream of owning a home is indeed a reality for some.

But home ownership is definitely an unfulfilled dream for many others, as Senior Economist at Proptrack, Paul Ryan explains. Proptrack's latest report found households earning a median income of 105 thousand dollars can only afford 13 per cent of all homes sold across the country in the last year.Low-income households which earn 64 thousand a year can afford just three per cent of homes."Housing affordability is in a really challenging space at the moment. And one of the positives we've seen has been a focus on housing supply as the solution to housing affordability.

Following close behind is Tasmania and Victoria, while housing affordability is highest in Western Australia and Queensland.

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Only 13pc of Australians can afford to buy a property, report findsSkyrocketing house prices and mortgage rate increases have dragged housing affordability to its lowest level in three decades, according to new data from real estate analysts PropTrack.
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