Posted: 1 October, 2016
by Triple M News
This Is The Only Sydney Suburb Where Average Income Families Can Afford A Home
Sydney’s property market is tough, that’s no secret… and it’s left only ONE suburb for families on an average income to afford a home.
According to a new analysis by finder.com.au, this suburb lies near Mount Druitt… if you’re not familiar with Willmot, you better check it out.
Located 50km west of the CBD, this suburb is the only one out of Sydney’s 600 where someone on an average yearly salary of $83,000 can afford to buy a home.
The study was based on a standard 10 per cent deposit and relies on families dishing out 30 per cent of their income on mortgage repayments.
If you’re lucky enough to be earning $100,000 per year, it’s still pretty tough to buy a house. Only 17 suburbs fall within your pay bracket.
If you’re on the hunt for a house… good luck.