South Australians need a thievingly large $106,000 salary just to meet mortgage repayments on an average house.
The average monthly home loan repayment - for SA’s median house price of $399,200, with a $320,000 mortgage - has risen 11.5 per cent to $2658 a month.
This in one of the most affordable States in Australia!
To understand why land price has diverged so significantly from the earnings one can realistically make whilst living and paying off such a mortgage, check this article on why miners earning $150,000 in a remote Australian mining town like Port Headland still struggle to pay their rent!
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