It’s a great topic of conversation at many a backyard barbecue. At some point over the past year, you’ve probably found yourself chatting to your mates about the good old days. And for those who are trying to get a foothold in the midst of Australia’s current housing climate, the dialogue has probably been centred around housing affordability.
When it comes to the basic cost of living, many feel a dollar just really doesn’t go as far as it used to. As it so happens, this isn’t just economic paranoia – we are living in a period of time where the cost of living for essentials has actually skyrocketed.
So what are the differences?
1998 vs now
Where have properties seen the most growth?
|City||1998||June 2018||% increase|
By and large Melbourne would’ve been the best investment for your money. If you had access to a smaller amount of capital at the time, you could have invested in Hobart and Adelaide and seen similar kinds of returns to Sydney.
We’ve also done some comparisons on those every day costs.
|Average national annual income||$32,163||$81,530|
|Average petrol price at the pump||68c per litre||$1.45 per litre|
|12 month average loan size||$118,375||$374,050|
|Streets Paddle Pop||50c||$1.50|
 Peter Abelson and Demi Chung, Housing Prices in Australia: 1970 to 2003
 Real Estate Institute of Australia: Australian capital cities median house price falls: Media Release,13 June 2018
 Australian Bureau of Statistics 5673.0.55.001 – Regional Wage and Salary Earner Statistics
 Australian Bureau of Statistics 6302.0 – Average Weekly Earnings, Australia, Nov 2017
 Bureau of Infrastructure, Transport and Regional Economics, Canberra: Petrol Prices in Australia
 Global Petrol Prices
 Australian Bureau of Statistics