Home affordability improves for 3rd quarter

The Real Estate Institute of Australia’s report on home affordability for the September quarter has improved throughout the country, with income proportion to loans improved to 30.4%, dropping by 0.5% as more people are able to meet their repayments.

Interest rate stability has been cited as a key factor – with the current interest rate pegged at 2.5%for the longest time in history.

Despite these improvements, REIA Chief Executive Amanda Lynch has pointed out the removal of the First Home Owners Grant on established dwellings as a major reason for driving away home buyers, as more people rely on loans to finance their homes.

Read more about this on the Sunshine Coast Daily website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

Leave a Reply

Your email address will not be published. Required fields are marked *