Perth is the most affordable city in Australia, according to a recent housing industry report.
“Perth is the most affordable city in Australia at present according to the latest HIA Affordability Index, which is great news for anyone looking to enter the housing market” commented John Gelavis, Executive Director WA.
The HIA Affordability Index is produced quarterly and measures the mortgage repayment burden as a proportion of average earnings in each market. A higher index result signifies a more favourable affordability outcome. “The HIA Housing Affordability Index saw another gain for Perth of 6.1% during the March 2018 quarter indicating that affordability in Perth continues to improve. Perth is now Australia’s most affordable capital city, followed by Darwin and Hobart”, noted John.
“These results suggest that dwelling price growth prospects over the medium term are brightest for cities like Perth and Darwin. Positive activity continues in the new home sales market, which is indicating that Western Australia is past the worst and positive times lay ahead.”