Suburbs across Australia where you need a huge salary to buy a house

Space-Separated Links URL URL URL URL Space-Separated Links URL URL URL URL Space-Separated Links url url url url url url url url url url url url url url url url url url url url url url url url


Aussies need to be earning a minimum income of more than $160,000 a year to buy an average-priced house, new data from Finder has revealed.

To be able to afford an average-priced unit, the figure drops slightly, to just over $120,000.

But both are well above the average full-time salary in Australia, which sits at almost $93,000, according to the ABS.

As interest rates continue to rise, Australians continue to stretch themselves financially in order to purchase property. Particularly if they want to buy in the city.

To buy a house in Sydney you need to be earning more than $200,000 and $160,000 in Melbourne. South Australia is slightly more affordable, with the average minimum salary to buy a house coming in at just over $140,000.

If you are earning the big bucks, you’ll still need to be making more than $6800,000 to own property in the most exclusive areas.

Below is a snapshot of how much you need to earn in Australia’s most expensive suburbs.

SEE THE FULL LIST BELOW >>

What is the minimum income you need to buy a house in Australia?

The Finder data examined the minimum income buyers required to afford an average priced unit or house in each suburb. Below is a snapshot of the most outlandish salaries needed to own property in some of Australia’s most prolific suburbs.

NEW SOUTH WALES

Top 5 NSW suburbs where you need to earn above $1M to buy a house

Vaucluse: Median house price $9M vs. median annual salary $1.1M

Bellevue Hill: Median house price $9M vs. median annual salary $1.7M

Dover Heights: Median house price $6.8M vs. median annual salary $1.3M

Rose Bay: Median house price $6.2M median annual salary $1.2M

Longueville: Median house price $5.8M vs. median annual salary $1.1M

See full list of median income needed to buy a house in Sydney

VICTORIA

Top 5 VIC suburbs where you need to earn above $500K to buy a house

Deepdene: Median house price $3.4M vs. median annual salary $686K

Canterbury: Median house price $3.2M vs. median annual salary $648K

Brighton: Median house price $3.2M vs. median annual salary $646K

Balwyn: Median house price $2.9M vs. median annual salary $570K

Middle Park: Median house price $2.7M vs. median annual salary $535K

Malvern: Median house price $2.5M vs. median annual salary $505K

See full list of median income needed to buy a house in Victoria

QUEENSLAND

Top 5 QLD suburbs where you need to earn above $400K to buy a house

Sunshine Beach: Median house price $2.9M vs. median annual salary $581K

Mermaid Beach: Median house price $2.6M vs. median annual salary $520M

New Farm: Median house price $2.6M vs. median annual salary $517M

Surfers Paradise: Median house price $2.4M vs. median annual salary $472M

Ascot: Median house price $2.3M vs. median annual salary $466M

See full list of median income needed to buy a house in Queensland

TASMANIA

Top 5 Tassie suburbs where you need to earn above $100K to buy a house

– Sandy Bay: Median house price $1.2M vs. median annual salary $253K

– Acton Park: Median house price $1.2M vs. median annual salary $240K

– Tranmere: Median house price $1M vs. median annual salary $207K

– Taroona: Median house price $953K vs. median annual salary $187K

– Kingston Beach: Median house price $929K vs. median annual salary $182K

See full list of median income needed to buy a house in Tasmania

SOUTH AUSTRALIA

Top 5 SA suburbs where you need to earn above $300K to buy a house

– Toorak Gardens: Median house price $2.3M vs. median annual salary $456K

– Malvern: Median house price $2M vs. median annual salary $404K

– St Peters: Median house price $2M vs. median annual salary $398K

– Hyde Park: Median house price $1.8M vs. median annual salary $365K

– Walkerville: Median house price $1.8M vs. median annual salary $354.8K

Add a Comment

Your email address will not be published. Required fields are marked *