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The New Daily
The New Daily
Matthew Elmas

‘Priced out’: Housing affordability hits decade low before interest rates rise

Housing affordability has fallen to a decade low after the COVID property price boom. Photo: Getty

More Australians are being priced out of the property market and squeezed by rising rents as housing affordability falls to a decade low.

The Real Estate Institute of Australia said on Wednesday that a typical Australian family finished last year spending more than a third of their incomes on home loan repayments or almost a quarter on rents.

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