Australian house prices: Then and now 1973 - 2014

Back in the seventies only one person worked in a household, usually, and those old small house from then are now being sold at the same price as the new large homes. Rent were cheaper too without being locked into a lease. The median wage is also a lot lower than the average wage. These statistics are always twisted to give a false feeling of prosperity to keep the sheeple happy. Welcome to the brave new world.

While we have more stuff now I think we were happier and better of back in the seventies.

Spot the difference

To break it down, in 1973, median house prices across Australia’s capital cities looked something like this:

• Sydney – $27,400
• Melbourne – $19,800
• Brisbane – $17,500
• Adelaide – $16,250
• Perth – $18,850
• Canberra – $26,850
• Hobart – $15,200
• Darwin – $87,500 (information unavailable until 1986; this value reflects 1986 housing costs)

Nowadays, we’re looking at much higher digits and another set of zeroes added to the price, according to September 2014 numbers from Domain Group’s House Price Report:

• Sydney – $843,994
• Melbourne – $615,068
• Brisbane – $473,924
• Adelaide – $459,258
• Perth – $604,822
• Canberra – $573,326
• Hobart – $322,274
• Darwin – $667,115

Now, before your eyes start rolling into the back of your head, let’s put it all into some perspective: back in 1973, the average weekly wage was $111.80 (including full- and part-time workers), according to the Australian Bureau of Statistics (ABS). Today, a full-time worker makes on average $1453.90 weekly (before tax). However, in the house price report, Dr Andrew Wilson, senior economist for the Domain Group, predicts that housing-market activity will continue to decline as affordable housing falls, joblessness increases and consumer confidence wavers.

Read more here http://www.domain.com.au/blog/australian-house-prices-then-and-now/?utm_source=outbrain&utm_medium=cpc&utm_campaign=content