By Katrina RoeThursday 6 Oct 2011Finance and BusinessReading Time: 1 minute
Sydneysiders are feeling more pressured than ever by the cost of housing. It currently takes more than 8 times the average annual income to buy an average Sydney home, compared to 5.6 times back in 2001.
Increased prices are also forcing first-time buyers to stay in the rental market for longer, pushing up rental prices. Sarah Toohey is the Campaign Manager for a new coalition of concerned citizens called Australians for Affordable Housing, which is made up of Christian welfare groups such as the Salvos and Anglicare.
Sarah Toohey says there is a desperate need for more low-cost housing because its harder than ever to buy a home.
Listen Now – Sarah Toohey looks into Sydney housing stress.
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More Info
- Visit www.housingstressed.org.au