SHARP IMPROVEMENT IN HOME AFFORDABILITY - SURVEY (18/7/2008)
AFFORDABILITY: There was a sharp improvement in home affordability in June thanks to falling house prices and interest rates, according to the Wizard Home Loans Affordability report out today.
The improvement was the biggest in the 6-1/2 years the survey has run and affordability was the best since February last year.
The survey, sponsored by Wizard, measures the proportion of a median after tax income needed to service an 80 percent mortgage on the median house price.
It shows it took... more>
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