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To Rent or Buy - That is the question

By madhu on June 20, 2017
Rental affordability falls while housing affordability improves Housing affordability across the country improved in the March quarter of 2017 as the proportion of income required to make loan repayments decreased by 1.3 per cent to 30.4 per cent. #RentvsBuy #HousingAffordability #StampDutyWaiver #FirstHomeBuyer The number of first home buyers across the country decreased by 11.2 per […]

Rental affordability falls while housing affordability improves

rent vs buyHousing affordability across the country improved in the March quarter of 2017 as the proportion of income required to make loan repayments decreased by 1.3 per cent to 30.4 per cent. #RentvsBuy #HousingAffordability #StampDutyWaiver #FirstHomeBuyer

The number of first home buyers across the country decreased by 11.2 per cent to 20,677 while the average first home buyer loan size fell by 0.4 per cent year-on-year and 3.2 per cent over the March quarter to $313,433. This data was published in the latest Adelaide Bank/Real Estate Institute of Australia (REIA) Housing Affordability report.

Rental affordability across the country also dropped as the proportion of income required to meet rent payments increased by 0.1 per cent to 24.6 per cent. This number, however, represents an improvement of 50 basis points from 25.1 per cent of family income in March 2016.

March data shows that buying a home is the way to go. The announcement of Stamp Duty waiver in NSW has also caused innumerable ripples with more first home buyer considering established homes in Sydney that was previously unaffordable.

Talk to Madhu on 0425 341 086 to discuss your buying options and to understand the Stamp Duty waiver.

Article written by madhu

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