The study has shown that while the traditional average income/average house price chart shows lots of 'cheap' housing in the south-west region, the reality is that most of Sydney is unaffordable to the people living in that area, and there are just a few pockets of reasonably affordable real estate scattered throughout the Sydney region;
While this is an interesting way to look at affordability, it doesn't speak to which areas are good value. After all, an area with expensive real estate will tend to be populated with high income families (who are the only ones that can afford to live there), and so may appear to be relatively affordable according to Randolph and Pinnegar (the authors of the report), but may still be overpriced.
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