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What the average salary will get you around the country



It’s no secret that your money can buy you a whole lot more bricks and mortar in some parts of our beautiful country than in others.

In Sydney, you can put a six-figure sum down on a home that is near derelict in condition. But in Adelaide, spending that kind of cash could secure you a near-mansion in a prestige suburb.

Have you ever wondered then, how far you might be able to stretch your property buying dollars in another part of Australia?

The average Australian earns a wage of around $81,000, according to the latest ABS statistics. So, we’ve done some sleuthing to uncover just how much property you can buy in each of our capital cities, based on this average income.

In crunching the numbers, we’ve made some assumptions:

  • Income of $81,000, equal to the average ABS wage.
  • A credit card limit of $5,000 per person, with no other debts or income.
  • $300 per week in rent/mortgage expenses ($600 per couple/household).
  • No dependants.
  • $1000 per month per person in other expenses, such as groceries, petrol, entertainment etc.
  • 4% mortgage interest rate.
  • Principal and interest mortgage repayments.

We’ve also gone out on a big old limb and assumed that you can afford a 20% deposit – but that’s a discussion for another article altogether!

So, with all of these assumptions in place, what can you buy and where?

Drum roll please…

On your own, you can afford to borrow around $243,000. Factoring in a 20% deposit of around $48,000, this means you can spend up to approximately $290,000.

As a couple, with all of the above assumptions duplicated for each person, your combined borrowing power would amount to roughly $510,000. Again, assuming a 20% deposit – in this case around $100k – you can afford to shop for properties priced at around $600,000.

What does this buy you in the current property marketplace?

Sydney, New South Wales

Couple buying together: One bedroom, one bathroom unit in Ultimo

Couple buying together: One bedroom, one bathroom unit in Surry Hills

Melbourne, Victoria

Couple buying together: Two bedroom, two bathroom unit in St Kilda

Couple buying together: One bedroom, one bathroom unit in Richmond

Brisbane, Queensland

Couple buying together: Two bedroom, two bathroom, two car space unit in Fortitude Valley

Couple buying together: Two bedroom, two bathroom, car space unit in Kangaroo Point

Perth, Western Australia

Couple buying together: Three bedroom house in Mount Lawley

Couples buying together: Two bedroom two bathroom, car space unit in Perth

Adelaide, South Australia

Couple buying together: Three bedroom townhouse in North Adelaide

Couple buying together: Two bedroom, two bathroom, car space unit in Adelaide

Hobart, Tasmania

Couple buying together: Three bedroom house in West Hobart

Couple buying together: Two bedroom, two bathroom unit in Hobart

Darwin, Northern Territory

Couple buying together: Three bedroom CBD apartment

Canberra, ACT

Couple buying together: New two-bedroom unit in Braddon