Accumulative home loan mortgage interest rate rises, coupled with higher home prices around Australia have pushed housing affordability to its lowest level on record.
The Commonwealth Bank of Australia – Housing Industry Association (HIA) Quarterly Review of Housing Affordability for the September quarter showed the index falling 2.1 per cent to be 8.3 per cent lower than [...]
Housing affordability took another hit as house prices in Melbourne, Brisbane and Adelaide rose sharply in the third quarter of 2007, raising affordability issues for these cities, Westpac says.
In a paper published yesterday, the bank’s senior economist Andrew Hanlon says the latest data shows Melbourne, Brisbane and Adelaide had the fastest annual house price growth [...]
Home loan rates could be on the way up again as early as August, presenting Prime Minister John Howard with fresh political problems as housing affordability takes a tumble.
New inflation figures released yesterday came in at a higher than expected 1.2 per cent for the June quarter, sparking fears of an imminent rise. Annual inflation sits at [...]
Australia needs a national housing affordability strategy now to deal with an increasing home ownership and rental crisis, Labor leader Kevin Rudd says.
Mr Rudd today said the Federal Government had failed to act on the crisis which was locking out first-home buyers and low-income earners from the housing market.
He said Labor planned to tackle [...]
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