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Assume a median at $550,000 for capital cities.

For combined income (after tax) to be 4.8 times, your looking at each person earning roughly $75,000 pre tax or $114,000 disposable (nett).

In order to assume that ALL houselholds are at 4.8 times, you either need to assume that:

1. All houselholds (including both dual or single incomes) have $114,000 disposable income &
2. Single income households have a disposable income of $114,000.

The figure quoted of 4.8 times is dangerously wrong.