Housing affordability declined across all Australian states in the December quarter of 2016, with New South Wales remaining the least affordability state or territory for homebuyers, according to the Real Estate Institute of Australia.
The latest Adelaide Bank/REIA Housing Affordability Report saw the proportion of income required to meet loan repayments rise to 30.4 per cent, an increase of 0.9 percentage points over the quarter but a decrease of 1.9 percentage points compared to the corresponding quarter of 2015.
REIA President Malcolm Gunning said historically low interest rates and modestly rising incomes were unable to offset the increasing size of mortgages resulting in the rise in the proportion of the median family income required to meet average monthly loan repayments.
Real Estate Institute launches Federal Election campaign
REIA News – March – April 2019
Housing Finance numbers continue dive: REIA
Budget highlights importance of property to a healthy economy: REIA
REIA responds to oppositions start date for negative gearing and capital gains tax changes
Winners of the REIA National Awards for Excellence 2019 announced
REIA welcomes SQM Labor Negative Gearing research report
Hobart, Adelaide resist downward property price trend: REIA
