Why Work for a Living? Winning the Game of Monopoly
One of Queensland’s fastest-growing cities is set to get its own version of the world’s most iconic property board game — Monopoly!
When you read articles about Australian housing affordability, it is often comparing the single average adult wage to house prices, from generations ago.
The articles generally say something like, ‘a house was worth three times the annual average wage back in the sixties and is now worth 10 times the average wage. This shows housing has become unaffordable.’
You can’t compare the two because back in the sixties it was one wage bidding on real estate.
The days of Dad going off to work, while Mum tends the children are long gone, just like the black and white TVs of that era.
It is now usually at least two incomes bidding on Australian real estate, land price has quickly factored that in. So you can’t compare the two figures.
These days you need to find historical figures for combined household income and compare the two.
When you do that you may find housing affordability hasn’t run away at all, but is simply keeping pace with wages.

One of Queensland’s fastest-growing cities is set to get its own version of the world’s most iconic property board game — Monopoly!

After two years of 20%-plus annual median price growth — it’s the slump they had to have

The thing is, what seems to be a shortage, with pressure coming from the property lobby to ‘increase supply now’, ignores one vital fact… We have plenty of supply.

The markets have been thrashed in recent weeks and news about continuing hikes in the cash rate isn’t giving much joy to the property sector either.

According to the platform, over the past summer holiday season, Airbnb listings across the WA were searched more than 2.1 million times.

The news caused more of a flurry than the election result — a 0.5% hike in the cash rate! The last time the RBA raised rates by 0.5% was 22 years ago.
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