PROPERTY

How much does a house cost? Effie goes back to school

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With all the talk about Australia's growing housing affordability crisis, how much do our kids know about property prices?

I visited Canterbury South Public School recently to find out!

While some answers were on the lower end of the scale ($500 for a house in Sydney? Yes, please!), one future property mogul hit the nail on the head.

property, kids, real estate, money magazine, money, school, deposit, financial literacy, housing affordability, saving money, sydney, effie zahos

According to SQM Research, the median price for a three-bedroom house in Sydney is $1.265 million, while the median unit price is just over $702,000.

So what does this mean for these kids? At nine or 10 years old, they'll probably be living with Mum and Dad until they're at least 30.

What do your kids have to say about property prices? Let us know in the comments.

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Effie Zahos is editor-at-large at Canstar and a financial commentator. She is the author of A Real Girl's Guide to Money: From Converse to Louboutins, and a regular money commentator on TV and radio across Australia. In 1999, a background in banking Effie helped kickstart Money, which she edited until 2019. Effie holds a Bachelor's degree in economics.
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