Affordability lowest on record, set to worsen
It is yet again disastrous news for home buyers, with home loan affordability at its lowest in the 22 years that the Real Estate Institute of Australia (REIA) has published affordability data. The September quarter 2007 edition of the Deposit Power/ REIA Home Loan Affordability Report found that 36.6% of family income was required to meet average home loan repayments.
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