Aussie houses earned much more than workers in 2021

CoreLogic’s Tim Lawless has provided the below charts showing the average change in house values across Australia’s eight capital cities in 2021:

While Brisbane houses (30.4%) experienced the strongest percentage growth in 2021, in sheer dollar terms it was dwarfed by Sydney, whose median house value soared by $314,188 over the calendar year.

Across every capital other than Darwin, house values rose by more than the median Australian income, which was $62,400 in 2021:

Australian median income

The median income in Australia was $62,400 in 2021.

The weekly value gains across the capitals ranged from around $1,200 to $6,300:

  1. Sydney: $6,300
  2. ACT: $4,200
  3. Brisbane: $3,500
  4. Hobart: $3,000
  5. Melbourne: $2,900
  6. Adelaide: $2,500
  7. Perth: $1,250
  8. Darwin: $1,200

Now spare a thought for those stuck in the rental market, whose housing costs have soared:

Housing equality took another big step backwards in 2021.

Unconventional Economist

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