Housing loan affordability has declined across Australia, however, it is good news for those who are renting with affordability generally improving in the second quarter of 2017, according to the Real Estate Institute of Australia (REIA).
The latest Adelaide Bank/REIA Housing Affordability Report found the proportion of median family income required to meet average loan repayments increased by 0.2 percentage points to 31.4 per cent.
REIA President Malcolm Gunning said at the same time, the total number of loans and the number of loans to first home buyers increased by 9.6 per cent and 14.0 per cent respectively, with increases in all states and territories except Tasmania.
