is property headed for disaster or stagnation?, page-171

Median wage around 50k , median house around 500k .

Pretty vague with your figures there , particularly the wages .

http://www.abs.gov.au/ausstats/[email protected]/Products/6302.0~May+2013~Main+Features~Key+Figures?OpenDocument

Average full time weekly earnings for May 2013 :

$1485.80 0r $77261 pa , a 4.8% increase from 2012.

And remember , that's wages , not household income . Big difference.