Housing Affordability Part 1
/Which way for property prices this year? This is driven in part by housing affordability. But what do we mean by affordability and how do we best measure it? To my mind there are several ways of looking at housing affordability:
House prices versus average incomes
Proportion of household income needed to purchase an average property
Average weekly rent versus average incomes
Each of these methodologies tells a different story.
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Loanscape has today released its Borrowing Capacity Index for Q4/2024. It confirms the forecast trend that borrowing capacities of Australian individuals and families are recovering from their low levels which coincided with the last of the recent increases to borrowing rates initiated by the Reserve Bank of Australia.