Housing affordability for home buyers has finally turned a corner, showing a slight improvement for the first time in three years, according to REIA.
The proportion of income required to meet average loan repayments fell to 46.7 per cent from 47.7 per cent in December 2023, after wages rose and rates remained on hold.
REIA reported that housing affordability improved in New South Wales, Victoria, Tasmania, and the Australian Capital Territory.
Meanwhile, housing affordability remained stable in South Australia but declined in Queensland, Western Australia, and the Northern Territory.
