Housing affordability improves slightly as prices fall in Australia

According to The Australian Financial Review, the rapid drop in house prices has slashed around five months off the time needed to save a deposit across Sydney and six months in Melbourne, as early signs of improving affordability emerge, the ANZ housing affordability report shows.
While the time saving is a small improvement relative to the 17.1 years still needed to save a deposit in Sydney and 13.6 years in Melbourne, the deposit hurdle is likely to fall further as prices continue to drop and wages start to rise.

https://www.afr.com/property/residential/housing-affordability-improves-slightly-as-prices-fall-20220829-p5bdom