The Highs And Lows Of Housing Affordability

CoreLogic’s latest housing affordability report highlighted a subtle improvement in housing affordability based on a ratio of household incomes to dwelling prices.

Nationally, the ratio reduced to 6.81 over the June quarter, down from a record high of 6.84 over the March quarter of 2018. The ratio simply means that for a typical Australian household, the typical dwelling price is about 6.8 times more than their gross annual income. The improvement in affordability is attributable to a…