Affordability

One of the strongest pointers to improving markets is the lift in affordability. Here's why housing affordability is so strong at the moment: the median dwelling price has dropped 5% since September 2010; average weekly earnings have risen ...7.45% in the same time frame; and the benchmark interest rate has dropped from 7.12% to 6.03%. All three components have moved in the right direction over the past two years to arrive at the best affordability levels in three years.

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