Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Housing affordability deteriorates in every state and territory

Staff Reporter 1 minute read

Housing affordability for both renters and buyers deteriorated in every state and territory over the June quarter, the Deposit Power/REIA Housing Affordability Report showed today.

The proportion of family income required to meet average home loan repayments rose to 39.8 per cent in the quarter, the highest level in the 22 years since the data has been compiled.

Noel Dyett, REIA president, said the situation was most severe in New South Wales and Queensland where the proportion of income needed to meet loan repayments rose to 42.6 and 41 per cent respectively.

25 per cent of family income is now needed to meet average rental repayments, the report showed, compared to 24.7 per cent in the March quarter.

Published: 1-09-08 


Housing affordability deteriorates in every state and territory
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
Carolyn Murphy ta Teachers Mutual targets brokers in digital bank launch

Hiver, a new digital bank to be launched under Teachers Mutual, i...

mortgage money house Qld real estate body calls for stamp duty reform

The REIQ has slammed the Queensland government for failing to act...

Alexis Holloway ta Pallas Capital appoints senior credit manager

The non-bank lender has appointed a senior credit manager whose r...