WA housing affordability declines

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.

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