RESEARCH AND EVIDENCE

Research & Evidence

Evidence-based decision making is a fundamental component of good decision making.

REIA is proud that our research remains sought after by the Reserve Bank of Australia, APRA, all of Australia’s Treasurers, bonds boards, banks, and leading economists.

Housing Affordability

Housing affordability declined over the June 2022 quarter with income required to meet loan repayments increasing to 38.4%.

This was an increase of 2.7 percentage points and an annual increase of 4.7%. The weighted average capital city median price fell by 1.8% over the June quarter for houses and decreased by 0.6% for other dwellings.

The weighted average median house price for the eight capital cities fell to $1,012,230 over the June 2022 quarter.

Median House Price First Home Buyers

The number of first home buyers increased to 29,127. This is an increase of 0.1% over the June quarter, but a decrease of 32.6% over last year.

The average loan size to first home buyers increased to $479,710, an increase of 0.9% over the quarter and an increase of 6.5% over the past year.

To inform evidence-based and credible policy, REIA published:

1

Four editions of the REIA Housing Affordability Report

Four editions of REIA’s Real Estate Market Facts

Three major research pieces

2

3

Blockchain: Opportunities and disruptions for real estate REIA Real Estate Market Facts A 20-year analysis

State of the Industry: Australian Commercial Real Estate

Rental Affordability

Rental affordability improved in Victoria but declined in all other states and territories.

The least affordable state or territory in which to rent a property continued to be Tasmania, where the proportion of income required to meet median rent increased to 29.6%. This was 6.7 percentage points higher than the national average. Rent increased, with the proportion of income required to meet median rent increasing to 22.9%.

This was an increase of 0.4 percentage points over the quarter and an increase of 1.2 percentage points over the past 12 months.

Median Rent Vacancy Rate

Vacancy rates increased in Canberra (0.7%), Hobart (1.1%) and Darwin (2.0%).

Vacancy rates remained stable in Adelaide (0.4%).

Vacancy rates decreased in Sydney (1.6%), Melbourne (4.6%), Brisbane (0.7%) and Perth (1.1%).