Housing affordability in Australia at crisis point

  • Housing affordability has hit a ‘crisis point’ with Australia, experts say 
  • Australia is second most expensive country in the world, says global study
  • Sydney was ranked the second least affordable city behind Hong Kong

Housing affordability has hit a ‘crisis point’ with Australia the second most expensive country in the world, according to a global study.

Australians are paying nearly 13 times their annual income to buy a house, the 14th Annual Demographia International Housing Affordability Survey found.

Sydney was ranked the second least affordable city behind Hong Kong for the third year in a row.

Sydney was ranked the second least affordable city behind Hong Kong for the third year in a row 

Housing affordability has hit a 'crisis point' with Australia the second most expensive country in the world, according to a global study 

Housing affordability has hit a ‘crisis point’ with Australia the second most expensive country in the world, according to a global study 

The harbour city was followed by Vancouver, San Jose, California and then Melbourne at fifth least affordable.

‘We’ve got a crisis situation in Australia,’co-author of the study Hugh Pavletich told Domain.

‘Prices are way too high, far higher that what they should be, what is (the government) doing to get housing at or below three times the annual income?’

The survey blames Australia’s lack of affordability on urban containment policies.

The policies aim to slow urban sprawl by encouraging people to live in places where housing already exists.

Comparing 293 markets, The Sunshine Coast and Gold Coast were among the 20 least affordable areas I the world.

Adelaide was ranked 34, Brisbane 38, Hobart 39 and Perth 51.

The harbour city was followed by Vancouver, San Jose, California and then Melbourne at fifth least affordable (Melbourne pictured) 

The harbour city was followed by Vancouver, San Jose, California and then Melbourne at fifth least affordable (Melbourne pictured) 

The survey blames Australia's lack of affordability on urban containment policies 

The survey blames Australia’s lack of affordability on urban containment policies 

 



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