Australian property located in bustling urban areas is more affordable for single people and couples without children, a study from the Australian Housing and Urban Research Institute has revealed.
Reported in the Sydney Morning Herald, findings suggested those with incomes of over $60,000 (£38,952) were more likely to purchase a home in an inner-city location than families on incomes of $100,000.
For this reason, property developers have made themselves busy by transforming these popular areas with a significant increase in the number of apartments on the market.
The A New Lens on Housing Affordability and Market Behaviour report also revealed that families with an annual income of less than $40,000 were often forced out of purchasing a home altogether.
"Not until household income exceeded $100,000 was there much ability for families to purchase in the inner city and middle ring," states the document.
This comes after former Macquarie Group executive director Bill Moss told the Australian that he believes the country's property market is in "pretty good shape" compared with overseas locations.
Posted by Steve Douglas
Reported in the Sydney Morning Herald, findings suggested those with incomes of over $60,000 (£38,952) were more likely to purchase a home in an inner-city location than families on incomes of $100,000.
For this reason, property developers have made themselves busy by transforming these popular areas with a significant increase in the number of apartments on the market.
The A New Lens on Housing Affordability and Market Behaviour report also revealed that families with an annual income of less than $40,000 were often forced out of purchasing a home altogether.
"Not until household income exceeded $100,000 was there much ability for families to purchase in the inner city and middle ring," states the document.
This comes after former Macquarie Group executive director Bill Moss told the Australian that he believes the country's property market is in "pretty good shape" compared with overseas locations.
Posted by Steve Douglas
