Housing affordability hits record low

The Housing Industry Association/Commonwealth Bank First Home Buyer Affordability Index fell by 2.2 per cent in Perth over the March 2008 quarter, with the index dropping by 10.8 per cent in regional Western Australia over the same period.
In the March quarter of 2008 interest rates increased by 0.8 of a percentage point on account of two official RBA rate rises and several retail rate increases, leading to average home loan repayments increasing by 3.1 per cent to $3,185 per month in Perth and 13 per cent to $3,379 in Regional Western Australia.
HIA's Western Australia Executive Director, Mr John Dastlik said today's report highlighted the importance of the Federal Government's housing programs and the need for urgent planning and taxation reform across all levels of government.
The report showed that affordability worsened in all capital cities with the exception of Sydney and a leveling out in Hobart. For the quarter, the greatest falls in affordability were recorded in Brisbane and Canberra.


(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

BNIQ sponsored byECU School of Business and Law


6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
10th-The University of Notre Dame Australia6,708
47 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer