Housing affordability has sunk to its lowest level in three decades. Average mortgage costs have ballooned to 35 per cent of household incomes in some areas. Experts say that the affordability deterioration is attributed to steep and rapid rate rises and an overall rise in property prices during COVID-19.
Average mortgage costs have ballooned to 35 per cent of household incomes in some areas. Experts say that the affordability deterioration is attributed to steep and rapid rate rises and an overall rise in property prices during COVID-19.
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