Affordability takes a hit in Brisbane even though apartments are now cheaper: Moody’s

first_img101 Wallaroo Way, Doolandella, has three bedrooms, one bathroom and a double-car garage.More from newsParks and wildlife the new lust-haves post coronavirus1 day agoNoosa’s best beachfront penthouse is about to hit the market1 day ago AFFORDABILITY: 101 Wallaroo Way, Doolandella, is being marketed at offers over $359,000.HOUSING affordability has deteriorated in Brisbane, even though apartments have become cheaper, warned Moody’s Investors Service.“In Brisbane, the proportion of household income needed to meet mortgage repayments increased more moderately by 0.9 percentage points to 24.2 per cent over the year to September 2017,” said a Moody’s Vice President Alena Chen. AFFORDABLE: Unlikely Brisbane property hot spots LUXURY DIGS: Popular Hamptons home sold circa $4m AUCTION: Is this Brisbane’s most luxurious home? 7 Sinclair Drive, Ellen Grove, has three bedrooms, one bathroom and a single car garage.The report found Brisbane house owners spent an average of 25.9 per cent of monthly income to meet monthly mortgage repayments in September 2017 (up just 0.1 percentage point on the 12 month average).Meanwhile apartment owners saw a major improvement in affordability, down 0.9 percentage points to 19.5 per cent of income to meet repayments. Apartment prices in Brisbane had also fallen by 3.6 per cent over the year to September 2017, according to Ms Chen. *FOLLOW SOPHIE FOSTER on Twitter or Facebook FREE: Get The Courier-Mail’s real estate news direct to your inbox 101 Wallaroo Way, Doolandella, is one of the cheapest houses on the market in greater Brisbane.Though the figure was below the national average (28.7 per cent of monthly income), it came at a time when Brisbane’s median housing price rose by 5.1 per cent and average weekly income grew just 0.5 per cent, according to Moody’s latest market report, ‘RMBS — Australia: Deteriorating housing affordability continues to pose risks despite improvement in Sydney’.Brisbane’s average weekly household income was $1,127, according to the report, which was just $1 lower than that of Melbourne. 5/28 Trundle Street, Enoggera, is on the market for $289,000. 7 Sinclair Drive, Ellen Grove, is for sale with owners wanting offers over $285,000. 5/28 Trundle Street, Enoggera, has two bedrooms, one bathrooms and a single car garage.last_img

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