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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