Australia

This has to re-balance at some point. The only way to buy a house seems to be to have an existing house to upgrade, or have someone die and get enough inheritance to make the remainder of a mortgage affordable. We went to refinance a month or so ago and an income of $250k was needed for about $1.3m mortgage (without lying about expenses)

This is the best summary I could come up with:

The September quarter saw Adelaide recording the highest capital gain at 4.3 per cent, pipping out Brisbane and Perth.

According to Mr Lawless, Brisbane looks set to reach a new record high in October, with home values currently only 0.6 per cent below their previous peak.

Perth was one of three capital cities to record strong September quarter figures, with house values up 3.6 per cent.

The median house value in Sydney rose 1 per cent and is now just short of $1.4 million, the peak it reached in February last year.

Together with low levels of supply, PRD chief economist Diaswati Mardiasmo believes property prices will increase further.

"People are feeling more confident with their financial situation as stable rates means there is less turbulence in monthly mortgage repayments, which allows them to plan their household budgets with more certainty," she said.

The original article contains 650 words, the summary contains 142 words. Saved 78%. I'm a bot and I'm open source!