Home Loans Declining Affordability
Posted
@ Sep 1st 2004 11:41am
- By GCPN Property Network
According to the latest AMP Banking/Real Estate Institute of Australia (REIA) Home Loan Affordability Report, home loan affordability fell nationally during the June 2004 quarter.
The report indicated the reason for the decline was an increase in the size of the average Australian home loan combined with no growth in weekly family income.
According to the AMP/REIA report, the size of the average Australian home loan increased by 5.4 per cent during the June quarter, which in turn caused the average loan repayment to rise by 5.3 per cent.
.