Good news for home buyers and renters: REIA

HOUSES affordability stayed the same in Queensland in the June quarter, according to the Real Estate Institute of Australia.

REIA President Neville Sanders says while most states and territories saw improvements in affordability, Queensland and New South Wales didn't decline.

Disappointingly the proportion of first home buyers appears to be on a downward spiral and is at its lowest for over two decades.

The only quarterly decline was seen in the Australian Capital Territory.

"Victoria recorded the greatest improvement across the country with the proportion of income required to meet average monthly loan repayments decreasing by 1.7 percentage points to 31.0%."

"The quarter also brought good news for renters with rental affordability improving as the proportion of the median family income required to meet median rents declining from 25.1% in the March quarter to 24.8% in the second quarter of 2016.

"The Northern Territory saw the best improvement, followed by South Australia and Tasmania."

 Western Australia has the largest proportion of first home buyers in the owner-occupier market nationally," concluded Mr Sanders.



150-year first for Gladstone church

150-year first for Gladstone church

A new sign of the times at Gladstone Presbyterian Church.

Controversial 1770 development decision spurs robust debate

premium_icon Controversial 1770 development decision spurs robust debate

Councillors vote to approve 1770 development despite reservations.

PROPERTY LIST: Peek inside these open homes this weekend

PROPERTY LIST: Peek inside these open homes this weekend

From Tannum Sands to Calliope there is something for everyone.

Local Partners