Home Mortgage News Australian housing affordability improves, study claims

Australian housing affordability improves, study claims

Published on 03 Dec, 2014

A new study has found that Australia’s housing affordability improved through the September quarter, as the proportion of income required to meet loan repayments decreased by 0.5% percentage points to 30.4%.

A new study has found that Australia’s housing affordability improved through the September quarter, as the proportion of income required to meet loan repayments decreased by 0.5% percentage points to 30.4%.

Based on the percentage of income to loan repayments, the ACT retains the crown of being the most affordable state or territory in which to buy a home, said Damian Percy, general manager of Adelaide Bank.

Pertaining to the September Quarter edition of the Adelaide Bank/REIA Housing Affordability Report, he said the proportion of income required to meet loan repayments is at 19.4% for the ACT - down 0.4 percentage points.

“Affordability has been assisted by an increase in the national median weekly family income, which rose 0.9% to $1,599 during the September quarter of 2014, and a 0.6% decline in the average monthly loan repayment,” Percy said.

National/State/Territory	Median income	Percentage of income to loan repayments
Australia	$1,599	30.4%
ACT	$2,499	19.4%
NSW	$1,583	34.5%
QLD	$1,580	28.1%
NT	$1,912	27.2%
WA	$1,897	25.9%
SA	$1,452	26.8%
VIC	$1,543	31.9%
TAS	$1,296	24.4%

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