First Home Buyer News – September 2012

Posted on September 12, 2012 · Posted in First Home Buyers, General

Another young couple has taken advantage of finance wise advice and saved over $24,000 in mortgage insurance and additional interest costs.  In addition, finance wise negotiated a significant interest rate discount on the first home buyer’s loan and their parents’ loan at the same time.

According to the REIA Home Loan Affordability Indicator, housing is the most affordable it’s been since December 2009.

It is the fourth consecutive improvement in the housing affordability figures.

The median weekly family income is $1560 compared to $1493 in the June quarter 2011 and the average loan repayment is $2155 compared to $2290 in the same period.

The number of first home buyers entering the market increased by 11.8% in the twelve months to June 2012.

Specifically South Australia’s proportion of weekly income required to pay a loan is 32%, our friends in New South Wales pay 37.4%.