Powered by MOMENTUM MEDIA
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.

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.

Advertisement
Advertisement

"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.

PROMOTED CONTENT


 

Adelaide Bank adds to housing affordability debate
mortgagebusiness

Latest News

The non-bank lender has announced the launch of specialist interest-free finance option for renewable energy technology. ...

The ME Bank acquisition will widen Bank of Queensland’s customer base to more than 1 million, according to new data from Roy Morgan. ...

The “high end” of the property market in the capital cities has benefited the most from the recent housing upswing, jumping 2.7 per cent...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: How the broking industry has evolved - and what's next for Aussie

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

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