Housing affordability continues to fall

StartFragment Housing affordability continues to fall StartFragmentHousing affordability in Australia continued its descent in the June quarter this year, according to the Housing Industry Association’s (HIA) latest affordability index. The report stated the continued decline was largely due to a rise in the median dwelling price of 9.1% to a record high of $540,200. The HIA Affordability Index uses a range of data including wages, house prices and borrowing costs to provide an indication of the affordability of housing. A higher index result signifies a more favourable affordability outcome. “The growth in house prices in the quarter outstripped the growth in wages resulting in th

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