Housing affordability improves for four consecutive quarters: REIA
Housing affordability has notched up its fourth consecutive quarterly improvement, according to the latest Adelaide Bank/REIA housing affordability index.
The June quarter improvement came as the proportion of income required to meet loan repayments decreased 0.8 percentage points to 31.9%.
The ACT remained the most affordable state/territory to buy a house, with the proportion of income required to meet loan repayments in ACT at 17.2%, given higher than average salaries.
New South Wales remained the least affordable, with the proportion of income required sitting at 37.4%.
“Compared to the 2011 June quarter, all states and territories recorded improvements in housing affordability,” says real estate institute of Australia president Pamela Bennett.
Median house prices increased 1.4% over the June quarter, with Darwin recording a 10.7% increase from last year.




