OVERALL HOUSING AND RENTAL AFFORDABILTY DECLINES

June 2nd,2021

Housing affordability improved in New South Wales and South Australia, remained steady in Western Australia and the Australian Capital Territory but declined in Victoria, Queensland, Tasmania and the Northern Territory, the latest Real Estate Institute of Australia’s Housing Affordability Report has found.

REIA President, Adrian Kelly said overall housing affordability across Australia has declined with the proportion of income required to meet loan repayments increasing to 34.7%, a rise of 0.1 percentage points over the quarter. When compared to the corresponding quarter of 2020, housing affordability improved with the proportion of income required decreasing by 0.5 percentage points.