Sydney’s housing crisis has reached an alarming new threshold with a key measure revealing it now takes more than two average full-time wages to affordably service a loan for a typical city home.

The Housing Industry Association’s housing affordability index, which measures the capacity of households to service mortgages, shows Sydney siders must fork out $4,729 per month, or nearly $57,000 a year, to service a standard mortgage on an averaged-priced home in the city.

he findings come as opinion polls show an unprecedented level of public anxiety about the cost of housing in the wake of a Sydney property boom that has lasted nearly five years.

The quarterly Ipsos Issues Monitor, which asks respondents to select the three most important issues facing their state, shows housing now tops the list of concerns in NSW.

It found 47 per cent of NSW respondents identified housing as an important issue facing the state in the June quarter, just shy of the record 50 per cent in the previous survey. That is compared with 29 per cent in 2013.

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