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

Good news on home loan affordability for some

A recent report has shown that home loan affordability is on the improve in Australia.

In good news for home buyers in New South Wales, the Australian Capital Territory and the Northern Territory, the Real Estate Institute of Australia (REIA) September quarter 2005 Home Loan Affordability Report has found that home loan affordability has improved in those areas.

The report shows that in September 2005, Australians needed 32.1 per cent of their family income to meet average loan repayments, a slight decline in affordability compared with September 2004.

In New South Wales, while home loan affordability improved, the proportion of family income required was, at 36.5 per cent, still greater than the 30 per cent benchmark which is widely viewed as indicating housing stress. Likewise, Queenslanders required 33.4 per cent of family income, Victorians 31.3 per cent and Tasmanians 30.8 per cent, in order to meet home loan repayments.

Only South Australians, Western Australians, and residents of the Northern Territory and the Australian Capital Territory required less than the 30 per cent benchmark, with Territorians the clear winners in housing affordability.

- finance, investment, property, loan, market

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