Have Your Say

Newcastle property prices: records nice for some, but shut the door for far more

By Letters to the Editor
October 23 2021 - 4:30am

THE fixation of the media with claims that record prices for house sales are great achievements forgets that fact that this is where affordable housing is thrown under the bus. Some simple facts: an actual house purchased in 1951 by a relative of mine was sold in 2009 at 61 times of the purchase price. When you compare the wages of the then purchasers in 1951 who were unskilled labourers, to the wages of the same band of qualifications in 2009 there has been a 27-time increase in wages. This demonstrates the pathway of the unaffordability of housing over those years.

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