Australian housing affordability hits record low despite price declines
Australia’s housing affordability fell to its lowest level on record in the second quarter. The Housing Industry Association affordability index deteriorated by 3.1% in Q2, even as house prices slid over recent months.
By James GlynnSYDNEY--Despite sharp falls in house prices across Australia over recent months, housing affordability still slumped to its lowest level on record in the second quarter.The Housing Industry Association's affordability index deteriorated by 3.1% in the second quarter, putting Australia…