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.
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RENTS RECORD FIRST ANNUAL FALL
REIA PRESIDENT CALLS ON THE REAL ESTATE INDUSTRY TO REMAIN VIGILANT AS STATE BORDERS REOPEN
MORTGAGE REPAYMENT RESUMPTION PROMISING SIGN FOR PROPERTY MARKET
BUDGET 2020: ADDRESS ON THE AUSTRALIAN HOUSING & PROPERTY SECTOR BY MINISTER THE HON MICHAEL SUKKAR TO THE REAL ESTATE INSTITUTE OF AUSTRALIA
AUGUST HOUSING FINANCE SHOW LARGEST EVER MONTHLY INCREASE, IMPACTS FROM VICTORIA’S STAGE 4 YET TO BE SEEN
BUDGET 2020: A STRONG BUDGET IF FORECASTS BECOME REALITY
REIA QUESTIONS FOCUS OF 10,000 NEW PLACES FOR FIRST HOME BUYERS
REIA News – September 2020
