ANZ CoreLogic’s Housing Affordability Report for 2023 revealed it takes an average of 14 years for a person living in the Greater Sydney Area to save for a house deposit; and a person living in Greater Sydney is spending almost 34 per cent of their income on paying rent, and almost 63 per cent on servicing a new mortgage.

Source: Rampant money-laundering, foreign buyers, put squeeze on renters, first home buyers – Michael West