Good news for Australian home buyers and renters
The Real Estate Institute of Australia (REIA) says that housing affordability in the June quarter 2016 improved to levels last seen seven years ago.
REIA President Neville Sanders says, “The latest Adelaide Bank/REIA Housing Affordability Report shows that the proportion of the median family income required to meet average loan repayments was 29.4%, which is the best level since the June quarter 2009. Affordability improved through more favourable interest rates and modest increases in income.”
“Most states and territories saw improvements in housing affordability. The only quarterly decline was seen in the Australian Capital Territory while no change was recorded in New South Wales and Queensland.”
