HIA Housing Industry Association : Housing Affordability Improves Further - Tas (241KB)

FOR IMMEDIATE RELEASE

31 January 2017

Housing Affordability improves further in Tasmania

Tasmania has consolidated its position as Australia's most affordable state according to the latest Affordability Report released today by the Housing Industry Association.

"Based on the typical size of mortgage repayments relative to earnings, home purchase in Tasmania remains much more affordable than in the seven other states," explained HIA Executive Director, Tasmania, Rick Sassin.

"The purchase of a median priced dwelling in Tasmania absorbs 23.8 per cent of average earnings - well below the 30 per cent threshold which is considered manageable from an affordability perspective," explained Rick Sassin.

"Affordability in Hobart improved by 1.2 per cent during the December 2016 quarter meaning that the city has consolidated its position as Australia's most affordable capital," Rick Sassin added.

"Tasmania's housing affordability advantage is rooted in the relatively low price of dwellings compared with other parts of the country. This offers huge potential in terms of economic competitiveness and inward investment for the local economy," concluded Rick Sassin.

HOUSING AFFORDABILITY INDEX, TASMANIA

Source: CoreLogic, ABS and HIA

150.0

130.0

110.0

90.0

70.0

50.0

30.0

D11 M12 J12 S12 D12 M13 J13 S13 D13 M14 J14 S14 D14 M15 J15 S15 D15 M16 J16 S16 D16 TAS TOTAL HOBART REST OF TASMANIA

For further information please contact:

Rick Sassin, HIA Executive Director, Tasmania 0407 596 704

For copies of the publication (media only) please contact: Kirsten Lewis on [e-mail]