Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Australian property 'severely unaffordable'

Staff Reporter 1 minute read

Australia’s housing bubble has yet to burst and “sooner or later” the market is likely to suffer house price declines according to a global housing affordability survey.

Demographia’s annual International Housing Affordability Survey has revealed that Australia has one of the least affordable housing markets in the world, relative to income, with the majority of housing markets “severely unaffordable”.

According to the survey, Australia’s Sunshine Coast is the least affordable property market in the world, relative to income, with the Gold Coast, Sydney and Queensland’s Bundaberg all following closely behind in the top ten “severely unaffordable” markets.

Not one of Australia’s markets made it into the “affordable” or “moderately unaffordable” categories making it more expensive than all other countries included in the survey - Canada, Ireland, New Zealand, the UK and US.

Top 10 Severely Unaffordable Markets

Advertisement
Advertisement

1. Sunshine Coast, QLD, Australia

2. Honolulu, HI, USA

3. Gold Coast, QLD, Australia

4. Vancouver, BC, Canada

5. Sydney, NSW, Australia

6. San Francisco-Oakland, CA, USA

7. San Jose, CA, USA/ Victoria, BC, Canada

9. San Louis Obispo, CA, USA

10. Bundaberg, QLD, Australia

Severely Unaffordable Markets - Where Australia’s capital city markets sit

Sydney – 5

Adelaide – 12

Melbourne – 12

Perth – 26

Brisbane – 28

Hobart – 29

Darwin – 34

Canberra - 60

Australian property 'severely unaffordable'
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
mortgage choice 850 Major brokerage appoints new GM of distribution

Mortgage Choice has announced that Citi’s former head of bankin...

ANZ new still ta ANZ extends business loan terms

The major bank has announced that it will extend the maximum loan...

cash money rolls Credit growth stunted by dive in business lending

Credit growth has waned as a result of a sharp drop-off in busine...

FROM THE WEB