Housing and rental affordability have declined across Australia as limited stock levels, inflation and interest rates continue to create trepidation in the market, the latest Real Estate Institute of Australia (REIA) Housing Affordability Report has found.
REIA President, Mr Hayden Groves said housing affordability has declined over the March Quarter 2022, with the proportion of income required to meet loan repayments increasing to 37.3%, an increase of 0.2 percentage points.
"Housing affordability improved in New South Wales and the Northern Territory, remained stable in the Australian Capital Territory but declines in all other states.
GROWTH IN HOUSING FINANCE APPROVALS RESUMES
2021 OFFERS UNIQUE OPPORTUNITY FOR LATE AUTUMN AND WINTER SALES
RENTS CONTINUE RECOVERY FROM COVID IMPACT
All-star line-up for REIA National Awards for Excellence 2021 to be held in the Top End
HOMES SHOULD BE AT THE HEART OF BUDGET 2021 AS AUSSIE JOBS COME BACK ONLINE
RAPID GROWTH IN HOUSING FINANCE APPROVALS SLOWING DOWN
AUSTRALIAN HOUSING PRICES SOAR BY 500% OVER PAST 25 YEARS