Aspiring home owners earning an average income of about $100,000 can afford just 10 per cent of all Australian homes, the lowest proportion on record, the latest ANZ CoreLogic Housing Affordability report shows.

The squeeze on affordability is a combination of high interest rates and rising house prices. The record low is well down on the 50 per cent share of all properties that were genuinely affordable for middle-income earners in December 2020. It’s also sharply lower than the 40 per cent recorded in March 2022, before interest rates started rising.