Housing and rental affordability dropped marginally across the country, according to new data.
The December quarter edition of the Adelaide Bank/REIA Housing Affordability Report showed that housing affordability declined in all states and territories, except for Victoria and the Northern Territory, according to Real Estate Institute of Australia (REIA) President Adrian Kelly.
Tasmania experienced the worst fall in housing affordability compared to other states.
Rental affordability, likewise, marginally declined across the country. All states and territories, except for New South Wales, Victoria, and Tasmania, posted drops over the period. The downward trend in rent affordability was led Northern Territory, which recorded the largest decline.
Victoria, meanwhile, was the only state or territory in which both housing affordability and rental affordability improved.
The number of loans to first-home buyers has increased, with rises in all states and territories. The number of loans to first-home buyers as a proportion of all loans has also increased over the quarter.
“Despite the Christmas break, the number of loans has increased across the country by 3.3%, with increases in all states and territories except Queensland. Tasmania, the Northern Territory and the Australian Capital Territory all had relatively large increases in loans to first home buyers,” Kelly said.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.
We value your privacy and treat all your information seriously - you can check out