Property 'becoming more affordable across Australia'

The cost of owning a property in Australia has fallen in recent months, new figures have shown.

According to the latest Affordability Report released by the Housing Industry Association (HIA), it has become easier for Aussies to meet monthly home loan repayments in most cities across the country.

The barometer took the value of properties and people's wages into account to determine affordability.

In a separate study, the Australian Bureau of Statistics announced that the number of dwelling approvals seen in January 2012 rose by 0.9 per cent, which could have an impact on house prices in the near future.

On the face of it, it seems that the housing sector is looking far more positive for property hunters, although the HIA research did indicate that Adelaide is bucking this latest trend, as the cost of owning a home in the city has risen.

The report indicated that there has been a steady decrease in affordability in the metropolis for the past two years.

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