Powered by MOMENTUM MEDIA
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 at record lows, set to worsen

Staff Reporter 1 minute read

Home loan affordability plunged 2.2 per cent over the September quarter and 8.1 per cent over the year.

Data released today in the Deposit Power/Real Estate Institute of Australia (REIA) Home Loan Affordability Report also found that 36.6 per cent of family income was required to meet average home loan repayments.

“Purchasing a home has never been more difficult in the past 22 years," said REIA president Noel Dyett. “The progressive decline in affordability and concerns about interest rate rises are reflected in the lower number of loans taken out in the September quarter compared to the previous quarter.”

“As a result of the November 2007 interest rate rise and possible rate rises to come, there is likely to be a further negative impact on home loan affordability in the December quarter,” he said.

 

Advertisement
Advertisement
Housing affordability at record lows, set to worsen
default
TheAdviser logo
default
more from the adviser
first home buyers ta Brokers wrote half of FHLDS loans

The latest figures for the FHLDS suggest that brokers assisted in...

percent arrow down ta Low repayment loan for brokers launches

Specialist lender TrailBlazer Finance has launched a new low repa...

handshake contract ta PLAN bolsters lending panel

The aggregator has announced the addition of Better Choice Home L...

FROM THE WEB