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.
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