Australian Property Prices Compared to Full Time Wages

Australian Median Property Prices Compared to Average Full Time Wages

Using data from ‘Australian House Prices 2012 to 2018‘ and ‘Average Male Australian Income by State‘ and ‘Average Female Australian Income by State‘, the following charts show the Property price to Earnings ratios for each Australian State between 2012 and 2018.

The unstratified median price of dwelling transfers shows the mid-point of all properties bought/sold in the period.

These prices are compared against the average Single Male Full Time income and a Dual Income family (Male and Female both full time).

These figures for NSW show that a Dual, Full time, income family can purchase a Median priced property outside Sydney for 2.3 times their annual income.

A Dual, Full time, income family purchasing a Median priced property in the Greater Sydney area however, would need 4.5 times their annual income.

A single male income, buying an established house in Greater Sydney would need 10.3 times his full time income.

Median Property Prices Compared to Average Full Time Wages : Sydney and NSW

Updated Property Prices per ABS 6416.0 at Dec 2018

Single Male Full Time Income

Established House Transfers – Sydney
Single Male Full Time Income
Year	Median Price	Average Income	Ratio
2012	$640000	$80922	7.9
2013	$745000	$81676	9.1
2014	$816000	$87365	9.3
2015	$915000	$89034	10.3
2016	$985500	$88951	11.1
2017	$1030000	$91946	11.2
2018	$940000	$94006	10
2019

Established House Transfers – Rest of NSW
Single Male Full Time Income
Year	Median Price	Average Income	Price ratio
2012	$360000	$80922	4.4
2013	$370000	$81676	4.5
2014	$380000	$87365	4.3
2015	$412000	$89034	4.6
2016	$445000	$88951	5
2017	$475000	$91946	5.2
2018	$465000	$94006	4.9
2019

Attached Dwelling Transfers – Sydney
Single Male Full Time Income
Year	Median Price	Average Income	Price ratio
2012	$525000	$80922	6.5
2013	$565000	$81676	6.9
2014	$650000	$87365	7.4
2015	$723000	$89034	8.1
2016	$735000	$88951	8.3
2017	$740000	$91946	8
2018	$725000	$94006	7.7
2019

Attached Dwelling Transfers – Rest of NSW
Single Male Full Time Income
Year	Median Price	Average Income	Price ratio
2012	$308500	$80922	3.8
2013	$320000	$81676	3.9
2014	$333000	$87365	3.8
2015	$362000	$89034	4.1
2016	$385000	$88951	4.3
2017	$400000	$91946	4.4
2018	$405000	$94006	4.3
2019	$	$

2 Incomes Male & Female Full Time

Established House Transfers – Sydney
2 Incomes Male & Female Full Time
Year	Median Price	Average Income	Price ratio
2012	$640000	$146634	4.4
2013	$745000	$149598	5
2014	$816000	$155958	5.2
2015	$915000	$160056	5.7
2016	$985500	$161751	6.1
2017	$1030000	$167830	6.1
2018	$940000	$172084	5.5
2019	$	$

Established House Transfers – Rest of NSW
2 Incomes Male & Female Full Time
Year	Median Price	Average Income	Price ratio
2012	$360000	$146634	2.5
2013	$370000	$149598	2.5
2014	$380000	$155958	2.4
2015	$412000	$160056	2.6
2016	$445000	$161751	2.8
2017	$475000	$167830	2.8
2018	$465000	$172084	2.7
2019	$	$

Attached Dwelling Transfers – Sydney
2 Incomes Male & Female Full Time
Year	Median Price	Average Income	Price ratio
2012	$525000	$146634	3.6
2013	$565000	$149598	3.8
2014	$650000	$155958	4.2
2015	$723000	$160056	4.5
2016	$735000	$161751	4.5
2017	$740000	$167830	4.4
2018	$725000	$172084	4.2
2019	$	$

Attached Dwelling Transfers – Rest of NSW
2 Incomes Male & Female Full Time
Year	Median Price	Average Income	Price ratio
2012	$308500	$146634	2.1
2013	$320000	$149598	2.1
2014	$333000	$155958	2.1
2015	$362000	$160056	2.3
2016	$385000	$161751	2.4
2017	$400000	$167830	2.4
2018	$405000	$172084	2.4
2019	$	$

Source:
Property Prices: ABS 6416.0 – Residential Property Price Indexes: Eight Capital Cities. Tables 4 and 5.
Incomes: ABS: 6302.0 Average Weekly Earnings, Australia, Nov 2018 Table 12