Affordability still worsening even as property prices tumble
Falling property prices are being offset by higher mortgage repayments, while worsening affordability is reshaping where and how Australians live.
Property price falls are not making it any more affordable for prospective or existing homeowners. (Image source: fizkes/Shutterstock.com)
You could be excused for thinking that with property prices falling across the board in Australia, they would by logical extension be becoming more affordable.
That’s far from the case.
Any relief from softer house prices and smaller average loan sizes has been absorbed by higher interest rates.
With rates expected to rise
again towards the end of the month and maybe even once more before 2026 slips away, home affordability is set to worsen even …
