Affordability at the highest level in 11 years

The Australian rental market recorded an increase in affordability in the second quarter of the year, according to a new study by the Real Estate Institute of Australia.

The proportion of income needed to pay rent decreased to 23.8%, a decrease of 1.2 percentage points (pps) over the quarter and 0.3 pps over the same period. # 39; year. This level of rental affordability is the best that it has been in 11 years, according to the study.

However, housing affordability declined slightly in the June quarter due to an increase in the average loan size.

"With the exception of Western Australia, housing affordability declined in all states and territories, although the average amount of loans increased by 0.2% to 6%. , 2% in all territories, only the family income of Western Australia has exceeded its increase, "the president of REIA, Adrian Kelly, said

.

Can you afford an investment property? This tool would help estimate the cost of an investment property.

The total number of loans, however, increased 6.6% from the June quarter.

"The number of loans granted to first-time homeowners increased in five of the six months of 2019. However, compared to the previous twelve months, there were 16,521 less new home loans, a decrease of 15.1%, "Kelly said.

The tables below show how the affordability measures in each state during the June 2019 quarter:

Top suburbs:

albion

,

balga

,

Narara

,

Penrith

,

St Kilda West

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