The average home loan in NSW has just cracked the $800,000 mark for the first time. That’s the average. So, yeah. Yikes.

Clare O’Neil says:

This is something the government’s obviously incredibly worried about. And when we say we’re tackling the housing crisis the number one problem we’re focused on is housing affordability. If I can step back, a couple of things about that quarterly data that was released today. It showed us some quite positive things that are happening in the market. One thing is we’re seeing an increasing number of first home buyers be able to get into housing and that is without doubt a reflection of some of the work Labor’s been doing with young people. The home guarantee scheme is something we have expanded significantly since we’ve been in office. If you’re watching at home and buying a house is on the agenda in 2025 talk to your bank about that. It’s a really important scheme that helps young people get in. But we are seeing – I think the increase I saw was something in the order of 1.4% over the quarter. I lie awake at night worrying about the situation young people are in.