In fact, each district in Sydney has already been "clearly priced," and your income is determining where you can buy a home better and faster. In 2017, buyers with median income who do not want to pay more than 1 / 3 of their income will have to choose 5 percent of Sydney`s district to buy separate homes, but now they are 10 percent.
As house prices fall and interest rates are cut, buyers are beginning to have more choices, as are flat units, the Daily Telegraph reported. Buyers with a median annual household income of A $105000 could only afford 20 per cent of units in Sydney two years ago, but now the proportion is 31 per cent. Real estate experts describe recent market trends as "buyer change rules of the game."
"now is a good opportunity to be a buyer and more people can enter the market," says Mortgage Choice`s Jane Vaughn. So how much do you need to earn if you want to buy a home in Sydney`s Chinese district?
The median Ashfield flat is A $670000 and the buyer earns at least A $116264.39 a year.
The median Ashfield independent home is A $1.51 million and the buyer earns at least A $262115.47 a year.
The median Burwood flat is A $840000 and the buyer earns at least A $145764.31 a year.
The median Burwood independent home is A $1.885 million and the buyer earns at least A $327102.06 a year.
The median Campsie flat is A $620000 and the buyer earns at least A $107587.95 a year.
The median Campsie independent home is A $1.2 million and the buyer earns at least A $208234.73 a year.
The median Chatswood flat is A $1.045 million and the buyer earns at least A $181337.75 a year.
The median Chatswood independent home is A $2.28 million and the buyer earns at least A $395645.99 a year.
The median Hurstville flat is A $740000 and the buyer earns at least A $128411.42 a year.
The median Hurstville independent home is A $1.28 million and the buyer earns at least A $239469.94 a year.
