"In the past it was 3-4X average wage, not 4-5X two wages."
In the "past" the average new burbs house was 120sqm, and now its more like 230-280. Renovations rarely included marble/ stone, ensuites, full landscaping, outdoor rooms, media rooms, hi tech lighting, electronics, and chef kitchens. Even a double garage was luxury 20 yrs ago
This single income argument and using "averages" is plain silly and a waste of time.
People here on these threads use compare the likes of Sydney and "average" Australian incomes for applying these simplistic and ignorant calculations
The reality is, someone buying an inner city terrace house for $1m is likely on $250k / professional or lawyer etc...with large deposits
Using averages is a waste of time ' 'some still don't get it
