Blog – West Aussies optimistic about housing affordability

 

Optimism surrounding housing affordability has soared in Western Australia, according to the latest Westpac Consumer Sentiment report.

The report found that although overall consumer sentiment in WA had dampened further in September, there was a 24.1 per cent increase over August in the ‘time to buy a dwelling’ index, which lifted to 137.7 – the highest level since February this year.

REIWA Deputy President Hayden Groves said a combination of low interest rates, increased property listings and moderating house prices was contributing to the optimistic outlook on housing affordability in WA.

“With the latest preliminary reiwa.com data showing that houses are becoming more affordable, plus with property listings hovering above the long term average, WA home buyers have a lot of choice available to them right now.

“When you combine these factors with the record low interest rates, it’s not surprising that buyers are feeling optimistic about housing affordability as the current market provides them with a great opportunity to secure their dream home,” Mr Groves said.

(Source: http://reiwa.com.au/about-us/news/west-aussies-optimistic-about-housing-affordability/)

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