Eye-watering amount couples must earn to afford a Sydney home

Couples must now both earn six-figure salaries to afford a home in the majority of Sydney areas, new data from Canstar has revealed.

The average Australian salary is just over $100,000, according to data from the Australian Bureau of Statistics (ABS).

Sydney’s eastern suburbs have a median house price of almost $4,000,000, while the north shore, northern beaches, inner west and Ryde all clocked in with median house prices over $2,000,000.

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Hopeful buyers for the former area would need to earn more than $650,000 on their own, or more than $300,000 individually if buying as a couple.

The latter four areas all require individual salaries of $419,000 to $514,000 or $190,000 to $238,000 each for a couple.

Parramatta, Sydney’s south west, Blacktown, the outer south west, outer west and Blue Mountains are the most affordable places to buy a house, though the former three all have median prices over $1,000,000.

To buy a home in these areas, prospective buyers would need to earn $160,000 to $227,000 on their own, or $81,000 to $109,000 each as a couple.

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