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Homes as affordable as they were in the 80's: ANZ

Buying a home is as affordable now as it was thirty years ago, according the ANZ’s head of property research, Paul Braddick.

Mr Braddick told an Urban Development Institute of Australia function today that the relationship between median house prices and purchasing power was the same today as it was in the 1980s.

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What a crock of...! Mr Braddick has been trundled out again by ANZ to discredit himself and try and prop up the deflating residential property market using shaky parameters like "median house prices". It would be more honest to state that the recent interest rate cut only came about to help the slumping house prices, at the expense of citizens who will suffer higher real inflation and loss of income on investments.

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