Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

Adelaide Bank adds to housing affordability debate

Adelaide Bank has emphasised the importance of housing affordability following the release of the its quarterly report.

Housing affordability in all states and territories saw a slight improvement over the March quarter from the same period last year.

The March quarter edition of the Adelaide Bank/REIA Housing Affordability Report shows the proportion of family income needed to meet home loan repayments has fallen from 30.8 per cent to 30.6 per cent.

Advertisement
Advertisement

However, on the rental side, the proportion of family income needed to meet rent payments has increased slightly from 25.4 per cent in the December quarter to 25.7 per cent, the report found.

“The latest findings represent a five per cent gap between rental payments and home loan repayments,” Adelaide Bank general manager Damian Percy said.

"We welcome an improvement in this quarter, but what of the future?” Mr Percy said.

“Are we making it easy for people to ‘right-size’ their homes and are state planning policies and taxes such as stamp duty limiting their ability or inclination to do so?

“I think it’s important to keep the housing affordability debate rolling.”

Mr Percy said encouraging home ownership should be a key priority for any home lender and Adelaide Bank is committed to working with the Real Estate Institute of Australia to contribute to the development of sound public policy that will help ease the supply side problems that put upward pressure on housing.

“Adelaide Bank’s continuing and widely recognised contribution to improving housing affordability is to keep the cost of lending as low as we can, while providing great service throughout Australia’s growing network of mortgage brokers,” he said.

 

Adelaide Bank adds to housing affordability debate
mortgagebusiness

Latest News

Liberal senator for WA, Dean Smith, is calling on lenders to convert principal and interest home loans for investors into interest-only repa...

Expectations of an increase in margin pressures and a “significant deterioration” in asset quality have prompted Moody’s to downgrade ...

The central bank of New Zealand has frozen the distribution of dividends on ordinary shares across all banks in the New Zealand market, aff...

FROM THE WEB
podcast

LATEST PODCAST: Managing the influx of COVID-19-related loans

Do you expect COVID-19 to reduce or increase your business flows?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.