Home loan affordability at worst level in two years

A new report says home loan affordability has deteriorated to the worst level since late 2010.

The figures come as house prices in November surged to record highs and average interest rates edged only marginally lower.

The Roost Home Loan Affordability report measures first home buyer household affordability by calculating the proportion of after tax pay needed by two young median income earners to service an 80 percent home loan on a first quartile priced house.

The percentage deteriorated in November to 22.8 percent of income, from 22 percent the previous month.

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