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
ALP needs to come clean before everyone loses: REIA
Little good news in housing finance numbers: REIA
REIA News – December 2018
REIA elects new president
House price drop largest in 7 years: REIA
Housing finance numbers on slippery slope: REIA
Housing and rental affordability improves across Australia: report
REIA News – November 2018