Cost of a new Ford XB Falcon
- Base sedan models started at approximately $4,200–$4,500
- Deluxe and GT models ranged from $4,800–$5,500 depending on options
- The XB featured minor styling updates from the XA, larger engines, and continued GT-HO performance variants.
- This was the early period of rising fuel costs and the onset of insurance premiums on high-performance cars.
Cost of a Ford ZG Fairlane
- Base ZG Fairlane sedan started at around $7,500–$8,000
- Higher-spec models could exceed $9,000, featuring luxury appointments like air conditioning, power steering, and premium interiors.
Cost of a Ford P5 LTD
- Base P5 LTD models started at approximately $8,500–$9,000
- The LTD was positioned as Ford Australia’s flagship luxury sedan, rivaling the Chrysler by Chrysler Valiant VIP and Holden Brougham.
- It featured high-end trim, premium upholstery, and optional luxury features like automatic climate control and power windows.
Average wage
- Average weekly wage: about $85–$90 per week
- Average annual wage: about $4,400–$4,700
Average house price
- Around $17,000–$18,000
Price of petrol
- Around 14–15 cents per litre, increasing due to global oil pressures leading up to the 1973 oil crisis
Prime Minister
- Gough Whitlam (Labor Party)
- Whitlam’s reforms were beginning to reshape Australian society.
Population of Australia
- About 13.3 million people
Top-grossing movie
- The Exorcist and American Graffiti were international hits (late 1973 releases).
- The Australian box office also saw strong attendance for James Bond films.
Top song
- Tie a Yellow Ribbon Round the Ole Oak Tree by Tony Orlando and Dawn was a chart-topper.
Significant world event
- 1973 oil crisis began, causing global fuel shortages and price spikes.
- The end of the Vietnam War was beginning to reshape international politics.
Popular TV / radio in Australia
- Number 96 was a hugely popular and controversial drama series.
- Homicide, Division 4, and Bellbird remained staples.
- Countdown was still a few months away from debuting (1974).
Significant Australian news story
- The Whitlam Government introduced major reforms:
- Ending conscription
- Expanding education access
- Introducing Medibank (precursor to Medicare)
- Rising fuel prices and inflation began affecting households and car owners.
Interesting comparisons
- The XB Falcon cost roughly one year’s average wage, while the ZG Fairlane cost around 1.8–2 years’ average wage, and the P5 LTD cost about 2–2.2 years’ average wage
- The average house cost about 4 times a yearly wage
- Filling the ~55L tank in an XB Falcon cost about $8, while the larger Fairlane and LTD V8s could push it to $10–$11
- A week’s wages could buy roughly 550–600 litres of petrol