Perth has nation's least affordable homes

Friday 04 June 2010

Article by Mozo

Perth has the lowest proportion of affordable homes in Australia, new research has revealed.

According to a report by the Council of Australian Government’s (COAG) Reform Council, just 5.5 per cent of Perth’s homes are deemed affordable among average earning citizens, the Courier-Mail reported.

The Western Australian capital was followed by Brisbane, where only 9.8 per cent of houses were found to be affordable.

Commenting on the findings, the report said that in Brisbane "the typical home price was the same as Sydney" but there was less diversity in the market and "income levels were much lower than in Sydney".

It added that the typical house price in Brisbane of $340,000 was much higher than the affordable home price of $270,000, according to 2007-08 previously unpublished Australian Bureau of Statistics data.

Such news may interest Aussies looking to compare home loans in search of the most affordable options. The recent RP Data-Rismark Hedonic Home Value Index revealed that the national average price growth for dwellings was 0.2 per cent in April – down from 1.3 per cent in March.

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