100 Years on from World War I

This week marks the 100 year anniversary of when Britain officially declared war on Germany.  As history has revealed, the bloody “war to end all wars” took place between 1914-1918 and spread carnage across Europe, killing over 17 million soldiers and civilians   Australia was quickly engaged to assist Britain and first saw military action as early as September 1914.  However, Gallipoli remains one of the most notable battles that our ANZAC’s have ever encountered.

 

World War I saw 416,809 Australian men enlist in the armed services from a population of fewer than 5 million.  Of those men enlisted, over 60,000 were killed and another 156,000 were wounded, gassed or taken prisoner.

 

As Australia and New Zealand begin Centenary celebrations in the lead up to the 100 year anniversary on 25th April 2015 for our own ANZAC’s – Lest we Forget!

 

In 1914, some interesting stats that we came across:

  • The median house price in Australia was $6,156.
  • The average wage was only $577. 
  • The average wage was for a basic 58 hour working week.
  • Typically a house was 10.5 times the average salary.
  • The average cost of a car was $550 – almost the yearly salary.
  • The Commonwealth Bank of Australia was just two years old.
  • Population of Australia was approximately 5 million people.

 

Today, the median house price in Melbourne as at July 2014 is $540,000, while the average wage for full-time workers is approximately $72,000 (this figure is pushed upwards by the large salaries of a small number of very high income earners).    Based on these figures, a house costs 7.5 times the average salary.  

 

Australia’s population has boomed to 23,500,000 as at 31st December 2013, with Victoria likely to see a population of around 6 million people by the year 2031, property will remain forever in demand.  

 

If you would like a detailed report on any property or for any lending requirements, I would be most happy to assist.  Call me, Michael Wren, on 9813 3522 or email michael.wren@mortgagechoice.com.au

Posted in: News

Contact us today.


Additional Comments? * :