Posted: 02 Sep 2011 11:11 PM PDT
It's about $50,000 aud. Figues from financial comparison show that Melbourne's booming market in the past five years has made houses less affordable. In 2006 the everage 10 percent deposit needed was $36,000, rising to $45,000 in 2009 and $48,000 in 2011. The rest of Australia had better prospect of saving for a first home than Melburians. Since the global financial crisis, affordability has improved, due to lower housing prices and countinued income growth for most Australians.
The everage Australian home now costs $420,000 , which is $60,000 less than the everage house price from two years ago and pretty much the same as five years ago.
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