Earn from homeEarning from home
Big paycheck you have to earn to buy a house in Australia.
The DESPITE house price, which will give way in most of Australia towns this year, you still have to earn a huge wage to buy a house. Recent evidence shows that potential purchasers need to make the large sums - in some cases six-digit - to prevent mortgages from becoming stressful. "Real estate values have slowed and that's good news for the first home buyer, but they still have to earn more than $161,000 a year to prevent mortgaging stresses in Sydney," Ms. Tindall said.
The Australian Bureau of Statistics estimates that individuals between the ages of 21 and 34 earn an annual income of 1066 dollars. In recent years the number of young Australians who have purchased their home has fallen sharply. Rising costs of ownership over the last ten years have led to the so-called Great Australian Dream slipping away for many youngsters.
"Roger Wilkins of the University of Melbourne said, "Even for those in this group who make it to buy a home, the mortgages burden has soared. Latest numbers show that one-four home buyers in NSW are now first-time buyers, with a threefold increase in the number of claimants for stamping tax breaks. Evidence is that the first home buyer numbers in Australia are improving, also thanks to declining home values in many towns.
In spite of the lower average housing price, the amount needed for a contribution and postage in each capitol is in excess of six-digits. Youths stay at home longer and get into higher debts. Studies show that young Australians spend more time with their families because of the high costs of their lives, and they go into deep indebtedness.
Home Co Rouse Hill - Return and Earn NSW
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