In this eye-opening article, Caroline Riches explores how, amidst soaring property prices nationwide, many homeowners are finding their homes earning more than they do.
With PropTrack reporting a significant 6.15% increase in national property prices”a pace not seen since July 2022″homes in certain suburbs are outpacing the average Australian wage in terms of earnings. The analysis leverages Prop Track’s automated valuation model to spotlight suburbs where median property price growth has exceeded the typical full-time adult’s gross weekly earnings.
From luxury locales in capital cities to more affordable neighbourhoods, the article covers the breadth of Australia, offering insights into where homes have become the main income source for their owners, dramatically reshaping the landscape of personal finance and investment.
https://www.realestate.com.au/news/the-suburbs-where-homes-are-earning-more-than-their-owners/