Affordability Back to 2013 Levels
The Real Estate Institute of Australia (REIA) today released its quarterly report into housing affordability in Australia which shows that the first three months of the year brought good news on housing affordability.
The Adelaide Bank/ REIA Housing Affordability Report provides a comprehensive analysis of the property sector in Australia and examines long-term trends based on quarterly results, which provide a better snapshot of the housing market.
REIA President, Neville Sanders said, “The latest comprehensive data shows an improvement in housing affordability nationally with the proportion of income required to meet loan repayments going down to 30% from 32.4% in the last quarter of 2015 and 30.8% a year ago.”
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