The Struggle for Homeownership in Perth
Even Perth’s high-income earners are being priced out of homeownership, with new data revealing that since 2019, soaring property prices have made it virtually impossible for many couples to save enough for a house deposit — despite earning well above the average wage.
Back in 2015, then-treasurer Joe Hockey famously claimed all it took to buy a home was “a good job that pays good money.” But that advice feels almost absurd a decade later, with median Perth house prices rising from $486,000 in 2019 to $764,250 in 2024. This drastic increase highlights the growing gap between income levels and housing affordability in the city.
Economic Realities
The data shows that even those in well-paying jobs are struggling to keep up with the rapidly increasing costs of real estate. This situation raises questions about the future of homeownership for young professionals and families in Perth.
What does this mean for job seekers? If you’re aiming to secure a home in Perth, you might need to consider how your current or prospective job stacks up against these rising property prices.
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