ANZ CoreLogic Housing Affordability Report August 2022

The ANZ CoreLogic Housing Affordability Report is a guide to the main trends and drivers of housing affordability across Australia.

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Australian home values are firmly in the downswing phase of the property cycle. The CoreLogic national home value index is down 2.0% since peaking in April, or the equivalent of a decline of around $15,000 in the median dwelling value. At the national level, the pace of decline in home values is the fastest observed since the Global Financial Crisis.

Lower home values may seem like good news for potential homebuyers. As dwelling values decline, some housing affordability metrics will begin to show improvement. In the combined capital city market, time needed to save a 20% deposit fell for the first time in almost two years (albeit marginally) in the June quarter.

However, mortgage costs are rising, rents are rising, and household budgets are stretched. Cash rate rises are yet to quell the supply and demand pressures behind other cost of living increases, leaving households to bear rising cost pressures on several fronts.

The ANZ CoreLogic Housing Affordability Report is a guide to the main trends and drivers of housing affordability across Australia. 

You can download a copy of the full report via the link below.

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