Real Estate

Have house prices risen faster than a Big Mac?


Have house prices increased in the past decade at the same pace as other “essentials”?

EVERYONE loves to talk about how much more expensive the cost of living is now compared with ten years ago.

You’d expect houses, even a takeaway coffee or a Big Mac to cost more, but has the rate of increase been the same for everything or are some things becoming more expensive faster.

Realestate.com.au has analysed the data to see how house prices changed in the past ten years compared to price variations for other everyday items.

The research used figures from the Australian Bureau of Statistics for house prices and wages and compared those against the relative price of petrol, a cup of coffee, a Big Mac, a bottle of water and a carton of hot chips.

A bottle of water has actually come down in price in the past decade.

A bottle of water has actually come down in price in the past decade.Source:Supplied

Surprisingly since 2005 not all items were more expensive – the bad news is the big ones, such as houses, are.

A bottle of water actually became cheaper by 23 per…

Read the full article at: http://www.news.com.au/finance/real-estate/house-prices-have-soared-in-some-capital-cities-but-how-does-the-rate-of-increase-compare-with-other-everyday-purchases/story-fncq3era-1227716120718

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