More deluded rantings from one of the perm-a-property bulls
a few NONE CPI figures for you to support the fact
In 1982 the median property price was $41,858 and was 3.72 times the annual average wage of $13,520
5 years latter in 1987 pre stock market crash property had grown by 55.5% to a median price of $65,128 or 3.53 times the annual wage at the time
Post 87 boom that lasted to 1990 saw property grow an further 62.8% or 4.14 times the avarage annual wage
property then stagnated and had minimal growth for a few years tand the ratio between wages and property prices dropped back
By 2003 the average property in Australia was $194,583 which was 5.56 times the average annual wage
5 years latter to the present and property has grown by 90% over the last 5 years to a median average of $370,000 or a massive 7.17 times the average annual wage.
So the property perm-a-bulls want to ignore CPI
yet real wage growth has only been slightly higher than CPI
yet wages from 1982 to now have grown 4.58 times
property over the same period has grown 8.84 times
