Continued from above.
Victoria
Over the March quarter, housing affordability improved in Victoria with the proportion of income required to meet loan repayments decreasing to 32.5 per cent, a decrease of 0.6 percentage points over the quarter and 1.6 percentage points compared to the same quarter of the previous year.
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Loans to first home buyers decreased to 7,199, a decrease of 18.7 per cent over the quarter.
Loans (excluding refinancing) decreased to 24,566, a decrease of 20.4 per cent during the quarter.
Rental affordability in Victoria improved over the March quarter with the proportion of income required to meet median rent decreasing marginally to 23.1 per cent.
New South Wales
Over the March quarter, housing affordability in New South Wales improved with the proportion of income required to meet loan repayments decreasing to 35.4 per cent.
Housing affordability also improved over the past year with proportion of income required to meet monthly loan repayments decreasing by 1.1 percentage points.
The number of loans to first home buyers decreased to 5,790, a decrease of 24.2 per cent over the quarter.
Rental affordability improved marginally over the March quarter with the proportion of income required to meet median rent payments decreasing to 28.2 per cent.