Australian Property News

Australian Housing Affordability Plummets to Record Low

By Ravs Realtors · 12 October 2026 · 1 min read · Source: Propertybuzz
Photo: SportSuburban / flickr · CC BY 2.0

New data from the Real Estate Institute of Australia (REIA) shows 48.6% of median family income was needed for loan repayments in Q3 2024. This, combined with high interest rates and rising mortgage sizes, intensifies pressure on families.

This record low affordability poses a significant challenge for first-home buyers and upgraders in Melbourne's western growth corridor. It underscores the importance of government support and innovative financing to access the market.

Summarised by Ravs Realtors from reporting by Propertybuzz.

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