Best figures in six years
USTRALIA had the highest level of affordability in nearly six years in the March quarter. The proportion of family income required to meet loan payments fell from 32.4 per cent in the previous quarter to 28.6 per cent.
At the end of the quarter 44,487 first-home buyers were in the market, compared with 36,098 in the December quarter and 30,373 in the March quarter last year.
Affordability improved most in Victoria. The proportion of income required to meet loan payments fell to 27.7 per cent from 32.15 per cent in the previous quarter.
Rental affordability in Victoria remained unchanged during the March quarter, securing Victoria’s position as the second most-affordable state in which to rent.