Australia’s house price-to-income ratio falls to lowest level since March 2003

In a recent blog economist and funds manager Christopher Joye gives some great news for property investors and prospective home buyers.

In his charts below he shows that Australian housing is at its cheapest level since March 2003 based on Rismark analysis of the national dwelling price-to-income ratio.

Of course, this is just one measure, and does not account for mortgage rates, which are now well below long-term historic averages.

This is just another reason why our property markets won’t crash like they did overseas. I explained this in much more detail in my recent update-  Property investment & the world’s economic woes