Queensland housing affordability on a downhill slide

Queensland residential real estate developers say there has been a substantial slide in housing affordability across the state in recent years.
The Urban Development Institute of Australia has today released a new national affordability report.
It charts the change in affordability of 70 centres in Australia between 2001 and 2006.
Institute state president Brian Stewart says the change in Queensland mirrors that in other states.
"We've moved from a situation in 2001 where 83 per cent of homes sold that year were affordable to families on a median salary, to a situation in 2006 where they can only purchase 27 per cent of the housing stock in Queensland," he said.
"That's [a] very substantial slide in affordability."

Source: ABC