Wednesday, May 21, 2008
Housing affordability at record low
The Housing Industry Association/Commonwealth Bank first home buyer affordability index slumped by 3.5 per cent in the three months to the end of March. This is the worst result since the series began in 1984.
The latest index also was 10 per cent lower compared with the March quarter of 2007. The March quarter housing affordability index fall was double the December quarter's 1.7 per cent slide.