Adelaide Bank/REIA Housing Affordability Report for the December ’15 quarter
Naritas is pleased to present the Adelaide Bank/REIA Housing Affordability Report Overview for the December 2015 quarter.
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In the December Quarter, housing affordability showed a decline nationally with the proportion of family income required to meet loan repayments increasing by 0.7% to 32.4%. This figure increased by 0.9%, compared to the corresponding quarter of 2014.
- All states and territories saw housing affordability decline this quarter, with the exception of the Northern Territory where the proportion of income required to meet loan repayments decreased by 3.7% and Queensland, where no change was recorded.
- Compared to the December quarter of 2014, housing affordability improved in Queensland, South Australia, Western Australia, Tasmania, the Northern Territory and the Australian Capital Territory.
- New South Wales had the biggest increase in average loan size up by 18.8%, compared to the December quarter of the previous year.
With the exception of the Northern Territory, all states and territories recorded an increase in average loan size with NSW recording the highest increase of 5.5%, during the quarter
- The number of first homebuyers increased 3.6% to 26,955.
- Excluding refinance, the number of first home buyers as a proportion of the owner-occupier market decreased 0.3% over the quarter and currently sits at 23.1%.
- The average loan size to first homebuyers increased 1.8% over the December quarter and by 9.2% compared to the same time last year.
For a copy of the report click here.
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