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Proof, as if any was needed, that Sydney is now one of the most expensive cities in the world (at least in terms of property). According to this recent article:
"A survey of global cities put Sydney at the top when it came to the percentage of income spent on mortgages."
The Sydney Morning Herald was mentioning this back in January too:
''The average household would be required to pay more than 50 per cent of its income to service a new mortgage on the median-priced house in Sydney or Melbourne"
Just another reason why I doubt I'll be buying a house in Sydney, just like so many other people in work too..
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