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flag Australian housing approvals rise 6.3%, yet mortgage repayments now exceed 50% of median family income.

flag Housing approvals in Australia increased by 6.3% in January 2025, reflecting low unemployment, rising wages, and population growth. flag Despite this growth, housing affordability hit a record low, with mortgage repayments consuming over 50% of median family income. flag The Property Council stresses the need for government action to meet the target of 1.2 million new homes by 2029, highlighting current supply shortages and the need for sustained growth in multi-unit approvals.

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