High-income households locked out of half of the housing market

According to The Australian Financial Review, aspiring home owners earning an average income of about $100,000 can afford just 10 per cent of all Australian homes, the lowest proportion on record, the latest ANZ CoreLogic Housing Affordability report shows.
The squeeze on affordability is a combination of high interest rates and rising house prices. The record low is well down on the 50 per cent share of all properties that were genuinely affordable for middle-income earners in December 2020. It’s also sharply lower than the 40 per cent recorded in March 2022, before interest rates started rising.
Even high-income earners have drastically fewer options, with just half of the housing market affordable for those making an average of $172,000 gross income per year. This is down from 80 per cent at the end of 2020.

https://www.afr.com/property/residential/average-buyer-can-afford-only-10pc-of-all-homes-20241119-p5krrj