Report shows low housing affordability

Housing affordability has declined nationally, according to a new report looking at the second quarter of 2018.

According to the research, the proportion of income required to meet average loan repayments rising 0.9 of a percentage point to 32.2%.

The figures were published in the June quarter edition of the Adelaide Bank/Real Estate Institute of Australia Housing Affordability Report.

While it has become harder to meet loan repayments, the data suggests it is far easier for renters.

Rental affordability improved with the proportion of income required to meet average rental payments decreasing to 24.1%, or a quarterly decrease of 0.7%.

Rental affordability improved everywhere except the ACT and Northern Territory.  The decreases in rental affordability were led by NSW with a drop in rental payments of 1.3% for the quarter, while Queensland saw the greatest improvement in rents year on year.

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Source: Australian Broker