RESIDENTIAL PROPERTY
HOUSING affordability deteriorated for both buyers and renters over the June quarter, with Australians losing more of their income in order to...
According to REIA’s latest Housing Affordability Report (HAR), the proportion of income needed to meet average loan repayments rose to...
Median income to home loan ratio was down across each state and territory, excluding Victoria, with NSW’s mortgage unaffordability pulling in...
Victoria followed at 46.5%, Tasmania at 43.5%, Queensland at 42.4%, South Australia at 42.1%, Western Australia at 35%, ACT at 34.8% and...
“The Australian Capital Territory had the smallest decline with the proportion of income increasing 0.1 percentage points while the Northern Territory had...
“Housing affordability declined in all states and territories except Victoria where there was an improvement as the proportion of income...
Rental affordability also decreased to 23.3% over the quarter, with Tasmania the least affordable state to rent in with a rent-to-income ratio of...
NSW followed at 27%, the Northern Territory at 25.5%, South Australia at 23.5%, Queensland at 21.5%, Western Australia at 22%, Victoria at 20.1% and the...
Domain recently reported national vacancy rate had held steady for the second consecutive month at 0.9%, indicating stabilisation in...
This as more people are pushed out of the buyers’ market, into rental stress and at risk of or facing homelessness...
At the same time, the June quarter saw an increase in the number of first home buyers nationally, with a 17.1% increase to 24,768 or a 15.0% increase compared to...
The average loan size nationally for first home buyers was up to $492,587, up 2.6% over the quarter and of 2.7% over the past twelve months...
“The reality is that for Australian households on median incomes, housing affordability has declined 13.6% over a 20-year period and 12.4% over the past 10 years,”...
“In comparison, rental affordability has declined a paltry 1.3% over a 20-year period, 0.9% over a 10-year period and 0.5% over the past five years.”