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The New Daily
The New Daily
Matthew Elmas

A typical income equals mortgage stress as property prices rebound

Canstar Tim Lawless Australia Interest Rates RBA
First-home buyers are being squeezed by rising rates faster than property prices can fall, new data shows. Photo: TND

Australians earning typical incomes are unable to afford houses in capital cities without immediately being thrown into mortgage stress, according to a new analysis of rebounding property prices and rate hikes.

Canstar figures published on Monday reveal a $71,000 gap between average incomes and what’s needed to repay a mortgage comfortably after median house prices rose to $851,000 in March.

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