12 September 2024 Posted In: Affordability

Business News

Nearly 40 per cent of a family’s income is needed to afford a house in Western Australia, industry data for the past quarter shows.

The Real Estate Institute of Australia Housing Affordability Report shows 39.5 per cent of family income was needed to meet loan repayments in the state, based on a median of $2,630 and average monthly payment of $4,504.

Housing affordability in WA fell by 1.7 per cent in the June quarter or 4.8 per cent year-on-year, according to the report.

Read the full article at Business News.

Related Posts

How to get back on track

Western Suburbs Weekly PERTH is in the midst of its longest property downturn in 30 years, with prices down 20.2 per cent since their peak in 2014 and home building numbers down significantly. There was talk of greenshoots and a tentative recovery last year, but the credit crunch put that on hold. Interest rates are […]

Read more

LISTINGS FOR NEW LAND AT SEVEN YEAR LOWS

LAND DEVELOPERS IN PERTH ARE FAST-TRACKING LAND RELEASES AS STOCK LEVELS DECLINE TO THEIR LOWEST LEVEL IN SEVEN YEARS. A survey of over thirty major land developers by the Urban Development Institute of Australia (WA Division) showed the level of stock on the market fell 24.7 per cent over the three months to June 30 […]

Read more

UDIA names Perth most affordable

Business News Perth has surpassed Adelaide as the most affordable capital city in Australia for land prices for the first time in a decade, according to a development institute’s annual report. The Urban Development Institute of Australia launched its State of the Land Report at its national congress in Perth today. According to the report, […]

Read more