Stable Incomes No Longer Enough for Sydney Housing Market, Research Finds

Published on July 24, 2024

Having a stable and regular income is no longer enough to enter the housing market in Sydney as prices continue to skyrocket, research from the University of Technology Sydney (UTS) and the University of New South Wales (UNSW) suggests. Published in the journal Cities, the study examined the relationship between housing affordability and employment contracts in Australia. The researchers found that based on the 2021 NSW weekly median income, no part-time employee earning $600 per week could afford to buy a home in Sydney even if all of their allotted money is for housing. Full-time employees who earned $1,500 are also not expected to afford a home in Greater Sydney....

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