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
First home buyers benefitting from stable market
REIA News – December 2017
Property prices fall across Australia: REIA
Housing loan affordability improves, first home buyers flood market
REIA News – November 2017
First Home Buyers Increasing Proportion of Housing Market
CPI Shows Renters Benefitting From Increased Housing Investment
REIA News – October 2017