Brief window of improving housing affordability opens
HIA says falling dwelling prices have briefly improved housing affordability for Australian homebuyers. The HIA's senior economist expects the relief to be short-lived.
"Falling dwelling prices have provided Australian homebuyers with a rare improvement in housing affordability, but the relief is unlikely to last" - Tom Devitt, HIA Senior Economist
Is housing affordability improving, and will it last for Australian homebuyers?
Builders and other residential trades may see a short lift in buyer demand as affordability improves. If the relief fades, new-build enquiries and work pipelines could soften again.
Key takeaways
- Falling dwelling prices have improved housing affordability for Australian homebuyers.
- HIA describes the improvement in affordability as rare.
- HIA's Tom Devitt says the relief is unlikely to last.
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