House prices out of reach

Townsville Bulletin - - Investor -

COM­MU­NITY work­ers such as teach­ers and po­lice face be­ing priced out of most Aus­tralian cap­i­tal cities due to ris­ing house prices. A BankWest study shows 78 per cent of the nation’s lo­cal gov­ern­ment ar­eas have av­er­age house prices well out­side the af­ford­abil­ity of po­lice, teach­ers, nurses, fire fight­ers and am­bu­lance of­fi­cers. The bank deems an area un­af­ford­able if the av­er­age house price is more than five times the av­er­age an­nual earn­ings of a worker. Syd­ney is the most un­af­ford­able, with the av­er­age price more than eight times the av­er­age an­nual earn­ings.

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