Housing affordability improved across all states and territories in the first quarter of 2017, however, the number of both first home buyers and loans decreased, according to the Real Estate Institute of Australia (REIA).
The latest Adelaide Bank/REIA Housing Affordability Report found the proportion of median family income required to meet average loan repayments decreased by 1.3 percentage points to 30.4 per cent.
REIA President Malcolm Gunning said first home buyers now make up 13.4 per cent of total owner occupied housing. This rate has been dropping steadily over the past 5 years yet seems to have stabilised over the past 18 months.
FOR FULL MEDIA RELEASE CLICK HERE
Housing Finance numbers show cautious optimism
REIA says rate cut to help affordability for home buyers
Leanne Pilkington recognised as best of the best
REIA News – June 2019
Research shows March housing decline, market to stabilise: REIA
Housing affordability improves while rental affordability declines: report
Rate cut will help affordability: REIA
Real Estate Institute of Australia welcome’s PM’s Ministerial appointments