“It now takes 95.5% of one median income to pay the mortgage on a median priced house purchased in February, up from January’s 81.8%(r). A typical buyer is assumed to be in the 30-34 age group.
This index was 103.1% a year ago and 137.4% five years ago. The affordability index reached its highest point of 154.3% in December 2005.
Essentially the median income for the typical buyer is not high enough to buy a median priced house, even with a 20% deposit.”
