Individuals looking to purchase their ideal Australian property in Perth could receive further encouragement after news about homes in the area.
According to the West Australian, residencies in the city are at their most affordable in almost two years as a result of stable interest rates and higher wages.
The news comes after figures from the Housing Industry Association (HIA) and Commonwealth Bank of Australia reported a three per cent increase in affordability in the June quarter.
Andrew Harvey, senior economist for the HIA, stated that it had been more than four years since homes in Australia were as reasonably priced as they are at present.
"If we look through the global financial crisis period, which was skewed by unprecedented cuts to interest rates, we have not seen affordability reach its current level since 2006," he added.
This news comes after the Sydney Morning Herald revealed that homeowners in Perth were holding on to their properties for longer due to the struggling property market.
Posted by Steve Douglas
According to the West Australian, residencies in the city are at their most affordable in almost two years as a result of stable interest rates and higher wages.
The news comes after figures from the Housing Industry Association (HIA) and Commonwealth Bank of Australia reported a three per cent increase in affordability in the June quarter.
Andrew Harvey, senior economist for the HIA, stated that it had been more than four years since homes in Australia were as reasonably priced as they are at present.
"If we look through the global financial crisis period, which was skewed by unprecedented cuts to interest rates, we have not seen affordability reach its current level since 2006," he added.
This news comes after the Sydney Morning Herald revealed that homeowners in Perth were holding on to their properties for longer due to the struggling property market.
Posted by Steve Douglas
