NT & WA lead the way on housing affordability..
Property has become more affordable in every state and territory over the past 12 months – except NSW.
The NT experienced the largest gain in affordability, the the share of income needed to meet repayments falling by 2.8 per cent from 26.6 per cent to 24.9 per cent.
NSW households used 35.6 per cent of their income to met mortgage repayments in the June quarter, according to a report from the Real Estate Institute of Australia and the Adelaide Bank.
Western Australia improved by 2.2 per cent from 26.6 per cent to 24.4 per cent, while Tasmania improved by 2.1 points from 25 per cent to 22.9 per cent.
South Australian mortgages has a saving of 1.6 point per cent, from 27.1 per cent, while Queenslanders had a saving of 0.08 points from 28.1 per cent to 27.3 per cent.
The ACT improved from 19.8 per cent to 19.5 per cent, while Victoria improved from 32.2 per cent to 32.1 per cent.