RESIDENTIAL PROPERTY
HOUSING affordability has declined across all Australian states and territories in the September quarter, as a growing proportion of...
According to the Real Estate Institute of Australia’s (REIA) latest Housing Affordability Report, the proportion of income required to...
On top of this, housing affordability has worsened all over the country, with Tasmania seeing the greatest decline as...
“Rental affordability declined less than housing affordability with the proportion of income required to...
“Rental affordability improved in New South Wales and the Australian Capital Territory, remained stable in...
The number of first home buyers was also down over the quarter, dropping 9.6% to 26,343, reflecting a 30.3% decline from...
“Over the September quarter, the number of first home buyers decreased in all states and territories except Tasmania and...
The average loan size for first home buyers was also down, falling 0.1% but growing 4.4% annually.
The quarterly decline was driven by drops in Victoria of 1.2%, 0.6% in Queensland, 1.7% in the NT and 1.0% in the ACT.
While increases were recorded in the remaining states, with NSW up 0.3%, South Australia up 4.4%, WA up 2.2% and Tasmania up 6.2%.
“The total number of owner occupied dwelling loans decreased to 85,122, a decrease of 9.4% over the September quarter and...
“The total number of loans for owner occupied dwellings decreased in all states and territories over the September quarter except in...
The average loan size over the quarter fell 2.7% to $595,566 but rose 4.4% over the past 12 months.
“This is the first quarterly decrease since September 2020. Over the quarter, the average loan size decreased in...
On an annual basis however, the average loan size increased in all states and territories, with Tasmania recording the greatest rise at 13.8%.