housing affordability

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    23/06/12
    12:45
    Post #: 10343227
    According to the West Australian today housing is as affordable today as it was in the 1950's but we still want bigger homes. The Commonwealth Bank Centenary Report into Home Ownership found that " an average home in suburban Melbourne cost 3500 pounds in 1950 - about seven times the average male's income of 525 pounds. A similar house could be bought for $840,000 today - about seven times the average household income of $127,000 a year".
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