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WA remains cheapest state for housing and rentals

Posted by admin on September 8, 2021
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Western Australia is once again the most affordable state in Australia for housing and rentals, according to the Real Estate Institute of Australia’s Housing Affordability Report.

Although overall affordability declined in WA during the June 2021 quarter, WA remains the most affordable state in the country for housing, with only the Australian Capital Territory and Northern Territory more affordable.

The Housing Affordability Report shows the proportion of family income required to meet average home loan repayments in WA was 26.5 per cent in the June 2021 quarter, up from 26.3 in the March 2021 quarter and 25.4 in the June 2020 quarter.

There were 14,069 loans taken out in the June 2021 quarter in WA, which is a 106 per cent increase on the June 2020 quarter.

The average loan amount in WA during the quarter was $430,805. The average loan amount increased 2.9 per cent in WA during the quarter, which is significantly lower than other states like New South Wales and Victoria where the average loan amounts were $705,658 and $568,188 respectively.

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Brendan Bowie has specialised in property sales, marketing, and leasing for more than 20 years. As a City of Belmont resident with a great knowledge of the local area, Brendan’s strategic and innovative property marketing approach, coupled with a strong networking focus, consistently yields quality outcomes for his clients.

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