PHOTO: Sydney
The tide is shifting but first-home buyers in Sydney and Melbourne still face an uphill battle. It’s slim pickings for a single person on a typical income – though there’s now more choice for couples or high-income earners.
In both capital cities, the median house price is well out of reach of most 20 or 30-somethings, and only a handful of suburbs in either city have even entry-level homes suitable for a Millennial on a median income.
The good news is aspiring homeowners have time on their side as the property prices in the Sydney and Melbourne markets are tipped by many economists to continue to slide.
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