Housing more affordable
REIWA has reported an improvement in affordability in WA’s housing and rental markets in the past quarter, according to the Adelaide Bank/REIA Housing Affordability report.
Data revealed the proportion of income to meet loan repayments decreased from 24.3 percent to 23.4 per cent.
WA’s rental market was more affordable in the March quarter with figures showing the proportion of income needed to meet the median rent price decreased by half a per cent to 18.6 per cent.
The report also shows the volume of first-homebuyers in the market has decreased by 6.5 per cent and there was a dip of 3.2 per cent in the amount of loans taken out in the March quarter.