The highly paid jobs you now need to buy a house in Australia - and the key areas where struggling first-time homebuyers are now flocking to get on the property ladder
2024-08-27 https://www.dailymail.co.uk/news/article-13782759/The-highly-paid-jobs-need-buy-house-Australia-key-areas-struggling-time-homebuyers-flocking-property-ladder.html HaiPress
An Australian wanting to buy a typical house in a big city now needs to earn more than $200,000 a year.
Employment group Seek has revealed that psychiatrists,construction project managers and doctors typically command salaries of more than $230,000.
Sydney's mid-point house price of $1.473million is so expensive that someone buying on their own with a 20 per cent mortgage deposit would need to earn $226,621 just to get a loan.
This individual would still be in mortgage stress,spending a third or more of their pre-tax pay on monthly repayments,despite being among the top 2.3 per cent of income earners.
Psychiatrists,who can prescribe mental health drugs,had the top average,advertised salary of $236,055 during the last financial year,following an annual pay increase of 6.58 per cent which was better than the overall labour market's 4.1 per cent wage rise.
Construction project managers get $232,682 while general practitioners are on $232,450.
Seek's head of market data and customer analytics in Australia and New Zealand Leigh Broderick said wages were still rising for some professions,despite the economic slowdown caused by aggressive rate hikes.
'In the midst of challenging economic conditions,salary continues to be top of mind for many Australians,' he said.
Sydney 's mid-point house price of $1.473million is so expensive that someone buying on their own with a 20 per cent mortgage deposit would need to earn $226,621 just to get a loan
First home buyers in Sydney are more likely to be flocking to city's outer south-west to get on the property ladder,with Moorebank having the most recipients for the guarantee scheme.
Median house prices in this suburb,36km from the city,are $1.267million but units are cheaper at $733,855,CoreLogic data showed.
Almost two-thirds of first home buyers getting in with the first home guarantee bought a house,suggesting dual couples are benefiting.
About 27 per cent bought apartments,which means single people buying on their own were getting units,while just 9 per cent overall bought a townhouse.
SydneyNew Zealand