Homebuyers on an average wage can today afford to purchase houses in twice as many Sydney suburbs as they could two years ago, when prices were at their peak.

New research shows that in 2017, those on the city median household income of $105,000 a year before tax could afford a median priced house in only 5 per cent of Sydney’s suburbs.

That’s if they wanted to avoid mortgage stress — a situation where loan repayments eat up more than a third of your income.

The same buyers can now afford houses in 10 per cent of suburbs due to recent prices falls and interest rate cuts, analysis of CoreLogic data showed.

New data reveals what salary you need to buy in any suburb around Sydney. Picture: NSW Real Estate

Unit buyers have even more options — an average earner can now afford median priced units in 31 per cent of Sydney suburbs, compared to 20 per cent two years ago.

Property experts described recent market moves as a “game changer” for buyers.

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Sydney home prices fell an average 15 per cent over the past two years, while banks are now offering mortgage rates as low as 3.5 per cent — well under the 5 per cent variable rate most lenders offered in 2017.

“It’s become a great time to be a buyer,” Mortgage Choice’s Jane Vaughn said.

“Before, lots of buyers were sitting out the market because it was too difficult but now more are finding they can get in.”

Property advisory service Patrick Leo’s director James Nihill said Sydney remained a market where buyers still needed to spend big to get a home but it was “definitely more affordable”.

“Credit has never been this cheap,” he said, adding that buyers were also benefiting from reduced competition.

“There is no more frenzy in the market.

“There is a perception that it’s a good time to be buying but no one is making crazy offers any more.”

Can you afford a house in Vaucluse? Picture: NSW Real Estate

Some of the biggest affordability gains were in Sydney’s west.

Middle-of-the-road houses became affordable again for average earners in Hebersham, Colyton, St Marys and Oakhurst.

In the southwest, house prices in Rosemeadow, Woodbine, Bradbury and Campbelltown were also affordable again.

Sydney’s cheapest properties could be found in Hawkesbury suburb Vineyard, where units at the median of $223,000 were affordable for buyers on an income of about $40,000.

Out west, median units were affordable for buyers earning about $60,000 in Winston Hills and Carramar.