News & Analysis » Asia
Australia Q2 Housing Affordability Declines - HIA/Commonwealth
August 18, 2010, Wednesday, 09:47 GMT | 04:47 EST | 14:17 IST | 16:47 SGT
(RTTNews) - Housing affordability in Australia sank in the June 2010 quarter, according to survey results published Wednesday by the Housing industry Association and Commonwealth Bank.
The HIA-CBA Housing Affordability index declined to a reading of 108.3 from the Q1 reading of 119.2, a decline of 9.1 percent.
The reading was 32 percent lower than in Q2 of 2009, HIA said.
The report said affordability declined by 9.5 percent in the nation's capital cities, and was down 6.7 percent in outlying regions.
The index measures interest rates, household incomes and home prices.
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