Towards the start of the coronavirus pandemic, the Commonwealth Bank forecast house prices would fall in Canberra by up to 10 per cent.
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Fast forward almost one year later and prices have actually risen by almost 10 per cent.
We're often told this means the city has weathered the pandemic well; it's a sign of a strong economy.
But every time that price increases, younger generations are left wondering if we'll ever achieve the great Australian dream.
After all, wage growth has been sluggish compared to house price growth - and that's an understatement.
In the past decade, the gross weekly household income has increased by 1.2 per cent, or $32 a week, according to the Australian Bureau of Statistics.
But, last year alone, house prices rose 9.1 per cent to a median house price of $855,530, the Domain House Price Report says.
If there was a race between wage growth and house price growth, wages would barely have made it off the starting line and house prices would have completed the race at least 100 times.
And while house prices have continued to grow during the pandemic, the labour market hasn't.
Sectors with the greatest job losses, including hospitality, retail, arts and tourism are also industries that employ a lot of younger people.
The Australian Bureau of Statistics puts youth unemployment at 13.9 per cent, overall unemployment is at 6.4 per cent.
People will say Canberra is fortunate, the city has the highest median wage in the nation and is bolstered by a high public sector workforce.
While that's true, it ignores a growing divide between Canberra's rich and poor.
The ACT Council of Social Services estimates there are about 38,000 Canberrans living in poverty, a jump from 30,000 prior to the COVID-19 pandemic.
As well, close to 9500 low-income households are in rental stress and the social housing shortfall is 3000.
With the end of JobKeeper nearing, more people are also likely to lose their job.
But even high-paid public servants are struggling to buy a house.
I've heard stories about people who offered more than $100,000 higher than the asking price to secure a home. This has come after months, even years, of searching and continually being beaten out by other cashed-up buyers.
It's easy to say, "well at least they can afford it" but they will likely be mortgaged up to their eyeballs for years to come even with record low interest rates.
Units are an obvious option for first-home buyers in Canberra. The median unit price is $435,410 and unlike houses there is no shortage of supply.
But you have to save for a deposit while paying the highest rents in the country.
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