Brisbane's sales market

Useful Facts Without Opinions: housing affordability

Human nature means we always want to save money. Buying a home’s usually our biggest expense so it can be very worthwhile trying to pick that elusive “best time to buy”. Here’s some stats to help with your decision-making:

* Housing affordability across Australia is at its highest level in three years, according to the latest HIA-CBA Housing Affordability Index.

* The Real Estate Institute of Australia/Adelaide Bank Housing Affordability Report shows 31.8% of an Australian family’s income is now needed to make home loan repayments, compared to 34.4% a year ago
* The HIA says Brisbane’s now the nation’s 3rd most affordable capital city, behind only Hobart and Adelaide

* Herron Todd White say our affordability is now the best it’s been since 2002

* RP Data say Brisbane’s home prices are now 11.4% below their peak in 2010

* Last week’s interest rate cut means the official rate is at its equal lowest level since the RBA started publishing its cash rate target in 1990

How about you give us your opinion for a change! Share your comments below