US Edition
Australia's Luxury Home Prices Soar over a Decade
- Canstar released a study in May 2025 showing aspiring home buyers now need nearly twice the income to afford homes in major Australian cities compared to 2020.
- This rise results from rapid property price increases since early 2020 and an increased RBA lending rate of 5.75% in May 2025, adjusted from 2.93% in May 2020.
- In Greater Brisbane, the required income rose by $99,234 to $171,862, while nearly 50 Queensland locations saw income needs increase by $200,000 or more, especially in coastal hotspots.
- Sydney suburbs Bellevue Hill and Dover Heights showed the largest income increases, up $883,000 and $720,000 respectively since 2020, reflecting significant affordability challenges.
- These income jumps highlight worsening housing affordability nationwide and suggest continued pressure on buyers as median Brisbane house prices might exceed $1 million by 2030.
Insights by Ground AI
Does this summary seem wrong?
8 Articles
8 Articles
All
Left
3
Center
Right
The Canberra Times+2 Reposted by 2 other sources
Australia's luxury home prices soar over a decade
Full list of what prices luxury homes start across Australia.
·Canberra, Australia
Read Full Article
Coverage Details
Total News Sources8
Leaning Left3Leaning Right0Center0Last UpdatedBias Distribution100% Left
Bias Distribution
- 100% of the sources lean Left
100% Left
L 100%
Factuality
To view factuality data please Upgrade to Premium
