The average mortgage size is now $341,750
The June Quarter edition of the Adelaide Bank/REIA Housing Affordability Report has disclosed that housing affordability remained relatively steady in the three months to June 2014.
The proportion of income required to meet loan repayments increased slightly by 0.3 percentage points to 30.9 per cent.
The average loan size to first home buyers increased 0.7 per cent over the June quarter and by 5.3 per cent compared to the same time last year, to $304,470. The average loan size overall is now $341,750 – an increase of $20,335 over the comparable quarter in 2013.
Source: Banking Day