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Jun 18 2016

Australian Property Prices Compared to Full Time Wages


Australian Median Property Prices Compared to Average Full Time Wages

Using data from ‘Australian House Prices 2003 to 2015’ and ‘Average Earnings in Australia November 2015’, the following charts show the Property price to Earnings ratios for each Australian State between 2012 and 2015.

The unstratified median price of dwelling transfers shows the mid point of all properties bought/sold in the period.
These prices are compared against a Single Male Full Time income and a Dual Income family (Male and Female both full time).

These figures for NSW show that a Dual, Full time, income family can purchase a Median priced property outside Sydney for 2.2 times their annual income.

A Dual, Full time, income family purchasing a Median priced property in the Greater Sydney area however, would need 4.3 times their annual income.

A single male income, buying an established house in Greater Sydney would need 10.2 times his full time income.

Median Property Prices Compared to Average Full Time Wages : Sydney and NSW

 

Median Price of Established House Transfers Adult; Total earnings ;All Industries ; Property Price to Income ratio
 Sydney  Rest of NSW Male Full Time Incomes  Sydney  Rest of NSW
Dec-2012  $ 640,000  $ 360,000 Nov-2012  $ 80,922.40 7.9 4.4
Dec-2013  $ 745,000  $ 370,000 Nov-2013  $ 81,676.40 9.1 4.5
Dec-2014  $ 838,000  $ 385,000 Nov-2014  $ 87,365.20 9.6 4.4
Dec-2015  $ 910,000  $ 405,000 Nov-2015  $ 89,034.40 10.2 4.5

 

Median Price of Established House Transfers Adult; Total earnings ;All Industries ; Property Price to Income ratio
 Sydney  Rest of NSW 2 Incomes Male & Female Full Time  Sydney  Rest of NSW
Dec-2012  $ 640,000  $ 360,000 Nov-2012  $ 146,634.80 4.4 2.5
Dec-2013  $ 745,000  $ 370,000 Nov-2013  $ 149,572.80 5.0 2.5
Dec-2014  $ 838,000  $ 385,000 Nov-2014  $ 155,927.20 5.4 2.5
Dec-2015  $ 910,000  $ 405,000 Nov-2015  $ 160,009.20 5.7 2.5

 

Median Price of Attached Dwelling Transfers Adult; Total earnings ;All Industries ; Property Price to Income ratio
 Sydney  Rest of NSW Male Full Time Incomes  Sydney  Rest of NSW
Dec-2012  $ 525,000  $ 308,500 Nov-2012  $ 80,922.40 6.5 3.8
Dec-2013  $ 565,000  $ 320,000 Nov-2013  $ 81,676.40 6.9 3.9
Dec-2014  $ 615,000  $ 320,000 Nov-2014  $ 87,365.20 7.0 3.7
Dec-2015  $ 685,000  $ 345,000 Nov-2015  $ 89,034.40 7.7 3.9

 

Median Price of Attached Dwelling Transfers Adult; Total earnings ;All Industries ; Property Price to Income ratio
 Sydney  Rest of NSW 2 Incomes Male & Female Full Time  Sydney  Rest of NSW
Dec-2012  $ 525,000  $ 308,500 Nov-2012  $ 146,634.80 3.6 2.1
Dec-2013  $ 565,000  $ 320,000 Nov-2013  $ 149,572.80 3.8 2.1
Dec-2014  $ 615,000  $ 320,000 Nov-2014  $ 155,927.20 3.9 2.1
Dec-2015  $ 685,000  $ 345,000 Nov-2015  $ 160,009.20 4.3 2.2






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