Had a conversation recently with a dual-income couple trying to work out what they could actually borrow in this market, and it was a useful prompt to actually sit down and run the numbers properly rather than rely on a vague sense of how things have shifted.
At 4.35% and a median sitting above $1.2 million, the borrowing capacity math has genuinely moved further than most casual conversations about the market seem to acknowledge. A household that would have comfortably qualified for a median-priced purchase three years ago is now looking at a meaningfully larger gap between what the bank will lend and what the market's asking.
That gap is exactly why the unit market, and the yield advantage I keep writing about, has been pulling more buyers in over the past year. It's not really a lifestyle preference shift. It's what the borrowing numbers are pushing people toward.