Australian property most affordable since 2016

Australian real estate is the most affordable since 2016, thanks to a combination of price drops and low interest rates. The finding came from new research commissioned by CoreLogic and ANZ, which was one of the major banks that chose not to pass on the full 0.25 percentage point rate cut decided by the Reserve Bank on Tuesday. For some Australian cities, it is the cheapest time to buy in decades. Darwin and Perth buyers, for example, are enjoying the most affordable conditions since September 2004.