"Affordable housing based on property under $500K
therefore property up to approx 7.5 times the average wage
Yep that is affordable
LOL"
According to an online calculator a person on 60k could borrow $457k. Therefore a $500k house would be affordable if:
-The loan is for 50 years
-They have no car repayments
-They have no credit cards
-They have no dependents
-The interest rate is 6%
-They have a 43k deposit.
-They have no other weekly expenses
Totally affordable! House prices are clearly set to boom!
hundreds of affordable suburbs in sydney, page-6
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