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Compared to rest of world, Australian property buyers still in relatively lucky country

Australians are increasingly contending with unaffordable real estate slipping from their grasp but on a global scale things aren't necessarily as bad as they might seem.

World map showing monthly pays required to buy a home
Australia's property prices, when it comes to number of monthly pay packets required to buy the average home, are surprisingly affordable. (Image source: BestBrokers)

With the fifth highest price in the world per square metre, Australian homes are increasingly moving beyond reach of the average Australian.

Housing affordability in Australia is at an historic low, with the proportion of median family income required to service an average loan

repayment climbing to 48.6 per cent.

It now requires the entirety of 147 monthly pay packets for the average wage earner in Australia to buy the median priced home, whic…

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