Did you know that WA is the second most affordable state in Australia?
The Real Estate Institute of Australia (REIA) has recently released its latest Housing Affordability Report and WA has come second (along with the ACT) in both rentals and buying of a property when it comes to affordability. The Northern Territory took out the top spot.
How do they work this out?
Well the REIA looks at the affordability of homes based on what proportion of the median weekly family income is required to service either loan repayments or rent.
Perth’s average percentage of income going toward rent/mortgage payments came in at 28.2%.
The Real Estate Institute of Australia (REIA) has recently released its latest Housing Affordability Report and WA has come second (along with the ACT) in both rentals and buying of a property when it comes to affordability. The Northern Territory took out the top spot.