DOUBLE OR NOTHING Buyers need to earn $166,000 a year to repay median-priced house

It comes as a new survey reveals nearly three-quarters of all Australians who bought and sold property in the last year encountered challenges. The 2024 State of Real Estate Report from InfoTrack shows the housing shortage is impacting buyers, with more than one in 10 admitting they struggled to find a property. “Around 14 per cent of respondents named finding a property a top challenge,” InfoTrack’s property Australia head Lee Bailie said.