WA housing affordability improves for buyers, tenants

BUYING and renting a home in WA became more affordable in the March quarter 2018 according to research by the Real Estate Institute of Australia and Adelaide Bank.

The latest Housing Affordability Report found the proportion of median family income required to meet average loan repayments was 23.6 per cent, 0.3 percentage points lower than the previous quarter.

However it was 0.2 percentage points higher than the same time last year.

Homes were least affordable in NSW where 36.5 per cent of the median income was needed to meet loan repayments.

Potential homeowners in WA borrowed less in the March quarter, with the average loan size decreasing to $350,545, down 0.6 per cent from the December quarter.

However, borrowings increased 3.7 per cent compared to the same time last year.

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