Balanced News: Aussies need to earn $300k a year to afford a home: report

According to new housing data, Australians now need to earn over $300,000 per year to afford their own home comfortably. The report found that median house prices in Australia were nine times the average annual income, with a median multiple of 9.1. The research highlighted that home ownership is becoming out of reach for the average Australian, and strategies such as First Home Buyer grants and Shared Equity schemes may exacerbate the problem by driving up house prices in the long term. The government is urged to come up with a housing policy that balances supply and affordability.