Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Property affordability 'improves again'

The HIA has found that housing affordability continued to improve in Australia.

Buying or renting a home in Australia has become easier for the third successive quarter as pressures on the property market ease, according to the Housing Industry Association (HIA).

 

 

The HIA-Commonwealth Bank Housing Affordability Index improved by 1.2 per cent in the September 2011 quarter, taking it to a level 5.2 per cent better than the one recorded in September 2010.

 

 

Adelaide enjoyed the best rise in affordability, gaining 4.5 per cent, with Sydney coming in second (1.9 per cent).

 

 

Growth in salaries and a small decrease in mortgage lending rates helped to improve the figures, HIA senior economist Andrew Harvey said.

 

 

"Affordability looks to now be trending in the right direction and with interest rate cuts in November and December we will hopefully see this trend continue," he added.

 

 

The improvement gauged by the HIA was not sufficient for lobby group Australians for Affordable Housing, which yesterday (December 7th) demanded fundamental changes in the property system in order to reduce housing stress.

 

 

Posted by David McElwain

- property, affordability, bank, housing, banks, interest, rates

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now