Housing Affordability Has Improved Over The Past Ten Years Across Most Regions Of Australia

The decade ending in June 2019 has seen the national median dwelling value rise from $382,650 to $516,710, an annual increase of 3.0%.  At the same time, household incomes (according to estimates from the ANU Centre for Social Research and Methods) have risen at the annual pace of 3.1%, up from $59,020 per annum in 2009 to $79,872 in 2019.  Over the same period, average mortgage rates (according to RBA statistics) fell from 5.1% in 2009 to 4.1% in June this year.  The wash up from these…