Low rates make housing more affordable

Housing affordability is the best it’s been since 2002 thanks to low interest rates, high incomes and easing home price rises according to the Housing Industry Association/Commonwealth Bank Housing Affordability Index.

Affordability has improved in Sydney and Perth but deteriorated in Adelaide, Hobart and Brisbane and is flat in Melbourne. Affordability is more favourable for existing houses than new ones.

Source: The New Daily

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