Was Buying a House Easier in the 80s? We Ran the Numbers | OWNI Ep 3

🎧 Listen to OWNI on Spotify: https://open.spotify.com/show/406axvb... Leave us a question! 🎤 https://owni.com.au/ Was it easier to buy a house in the 80s? In 1986 the median house cost about $82,000 on an average wage of about $22,000. Today it is about $922,000 on about $108,000, so house prices have gone from 3.7 times the average wage to 8.5 times. But that is only half the story. With interest rates at 15.5% in 1986, repayments ate about 47% of a full time wage. Dion and David run the numbers on deposits, repayments and total interest to find out who really had it harder, and what the 5% deposit scheme changes. In this episode, you'll learn how long it takes to save a deposit now compared to 1986, what getting in sooner with a 5% deposit costs you in interest over the life of the loan, and how negative equity works so you can avoid it. Plus, how a handwritten letter helped win a property this week, and how to write one that makes your offer stand out. Perfect for first home buyers, anyone weighing up the 5% deposit scheme, and anyone who has had the "boomers had it easy" argument at a family dinner. Chapters: 00:00 - Intro 00:44 - We won a property with a handwritten letter 04:51 - Why this topic? 06:53 - Running the numbers 08:39 - Did Boomers feel the pain? 10:01 - Average wage today, won't buy the average house 12:15 - Accessibility comparison 14:09 - Negative equity 15:18 - Would you pick 1986 or 2026? 16:36 - What does the future hold? 17:39 - Outro 🏡 About OWNI OWNI is the podcast about the property buying journey, hosted by Dion and David. Every episode breaks down a stage of buying property in Australia, from getting your finance sorted to finding the right place and getting the keys. ⚠️ Disclaimer This episode is general information only and does not take into account your objectives, financial situation or needs. It is not financial, legal or tax advice. Speak to a licensed professional before making any decisions. #owni #firsthomebuyer #australianproperty #propertypodcast #housingaffordability