How much income do I need to repay a home loan?
The Real Estate Institute of Australia (REIA) and Adelaide Bank report that the proportion of median family income required to meet average home loan repayments is about 32.4 per cent, up 0.7 percentage points from September 2015. NSW is the least affordable state for home buyers, with the proportion of income required about 7 per cent above the national average.
New South Wales and Victoria now have average loan sizes exceeding $400,000.
Source: Mortgage Business