According to data from the real estate website, since 2000, the housing affordability of Victorians has soared to the best level. The Housing Industry Association Affordability Report was released this week. The report combines the impact of the new crown virus pandemic on housing prices and Victoria’s 2018-2019 market adjustments to calculate this year’s housing needs index.
From 1.51 in June 2018 to the current 1.29, the Victorian Housing Affordability Index improved by 6.9% in the June quarter of this year: Victorians are increasing their budgets in accordance with the policy to purchase larger houses. The proportion of land sales under 350 square meters fell from 41% to 35%, while land sales between 350 square meters and 450 square meters showed a headwind upward trend, rising to 41% of all real estate sales.
In addition, single home buyers accounted for 35% of total sales this year, more than double the historical level. This value has averaged only 17% in the past ten years, which is 10% higher than the data in June 2019.
