Property affordability lurches from stress to panic
The average home loan now consumes more than half of the median family's income, with affordability deteriorating at a startling rate over the past few years.
Rising property prices have taken a wrecking ball to housing affordability in Australia. (Image source: Shutterstock.com)
The voracious appetite of the average home loan now gobbles up more than half of the median family income.
In a devastating critique of the Australian housing landscape, the latest REIA Housing Affordability Report, released Friday (7 March), shows housing affordability has declined to a new all-time low.
The average loan repayment now amounts to 50.1 per cent of the median family income, an increase of 1.4 percentage points, and the highest pr…
