PHOTO: Property prices have cooled and that’s good news for first homebuyers, but they still need to earn more than $161,000 a year to avoid mortgage stress in Sydney

DESPITE property prices softening in most Australian cities this year, you still need to earn a mammoth salary to buy a home.

New data shows that would-be buyers have to rake in the big bucks — in some cases six figures — to avoid experiencing mortgage stress.

“Mortgage stress is when 30 per cent or more of your pre-tax income is going towards loan repayments,” Sally Tindall, RateCity.com.au research director, explained.

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