Housing affordability tumbles
December 9 2010 No Commented
Housing affordability has dropped more in the past 12 months than any other year in the past decade. The Real Estate Institute of Australia (REIA) says the proportion of income required to meet loan repayments increased by 5.8 percentage points to 34.8 per cent in the year to September 2010. Despite the decline, some states and territories experienced a moderate improvement in affordability over the quarter, with the exception of the Australian Capital Territory, Queensland and Victoria.
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