Housing affordability is on the rise according to the latest figures from the Real Estate Institute of Australia (REIA).
This could be just the news to kick-start prospective homebuyers into action across the country.
The latest REIA statistics in the June quarter 2012 show "an improvement in housing affordability with the proportion of income required to meet loan repayments decreasing 0.8 percentage points to 31.9 per cent," REIA president Pamela Bennett said.
A higher income led to the ACT becoming one of the most affordable areas to buy a home in.
In contrast to the June quarter last year all the states and territories showed an improvement in housing affordability, Ms Bennett said.
"The largest decreases in the proportion of income required to meet loan repayments were evident in Tasmania and Victoria, down 4.7 and 4.3 percentage points respectively," she added.
Darwin recorded a 10.7 per cent increase in contrast to the same time last year.
Meanwhile New South Wales has been left behind by the other states and territories in terms of housing affordability.
Now could be an opportune time for prospective homebuyers to make their move on to the first rungs of the property ladder.
