First-home buyers now require a household income of more than $100,000 to qualify for a loan on the median-priced first home, a report from the Housing Industry Association and Commonwealth Bank has found. This is up steeply from $80,000 two years ago, due to rising home prices and interest rates.
» Median home loan needs $100,000 income – The Sydney Morning Herald, October 19th 2007.
» Affordability index shows dream might be over – The Melbourne Herald Sun, October 19th 2007.