Ensure you never miss an issue of the
real estate business bulletin
Canberra named most liveable city

Canberra named most liveable city

Canberra named most liveable city
by Staff Reporter 0 comments

Canberra is the best location for people looking to buy or rent a property and still maintain an adequate disposable income, according to one comparison website.

The latest round of calculations from mozo.com.au – based on research by CoreLogic RP Data and the Australian Bureau of Statistics – shows the average after-tax salary and average mortgage repayment for each of Australia's capital cities.

Canberra came out on top, with the average monthly salary sitting at $5,651 and the average mortgage repayment at $2,380, with $3,271 left over to cover other expenses.

“Canberrans are parting with 42 per cent of their salary, leaving the rest for expenses and lifestyle such as dining out, travel or saving for a rainy day,” Mozo director Kirsty Lamont said.

Sydney was named the least “property- and lifestyle-friendly” city, with homeowners spending 63 per cent of their average monthly income on repayments, with just $1,895 left over.

“Big property prices mean big mortgages and Sydney and Melbourne are not only slapped with high repayments, they’re also among the world’s top 10 most expensive cities,” Ms Lamont said.

“So once you cover the cost of living, it doesn’t leave much left over for the fun stuff.”

Darwin and Melbourne homeowners both spend an average of 50 per cent of their monthly income on repayments, with those in Darwin left with $2,483 and those in Melbourne left with $2,387.

Brisbane and Adelaide homeowners hold onto $2,835 and $2,727 respectively, spending 43 per cent and 41 per cent of their average monthly income on repayments.

Perth and Hobart homeowners are spending 43 per cent and 36 per cent of their average monthly income on repayments, leaving them with $3,192 and $2,839 respectively.

Canberra named most liveable city
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?