I’ll get to the economic outlook shortly. First, I want to touch on what’s becoming a big problem. Property prices are not only growing more than income, they’re growing a lot more than savings. Sydney’s median house price is now $1.6m. That means for a 20% deposit, a buyer needs $320k plus stamp duty. If they don’t, they’ll need to pay tens of thousands more in mortgage insurance.
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Reality check coming for the RBA
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I’ll get to the economic outlook shortly. First, I want to touch on what’s becoming a big problem. Property prices are not only growing more than income, they’re growing a lot more than savings. Sydney’s median house price is now $1.6m. That means for a 20% deposit, a buyer needs $320k plus stamp duty. If they don’t, they’ll need to pay tens of thousands more in mortgage insurance.