Three Australian cities ranked in the top 10 most unaffordable housing markets in the world

In what may be no surprise for many prospective home buyers, three of Australia’s capital cities have been ranked in the top 10 most unaffordable housing market s in the English-speaking world. Chapman University’s Frontier Centre for Public Policy’s Demographia International Housing Affordability report ranks middle-income housing affordability in markets in eight nations: Australia, Canada, Hong Kong, Ireland, New Zealand, Singapore, United Kingdom and the United States.

This should flatten or even reduce prices in the highest-cost housing markets as other households seek less costly housing elsewhere. “There is a genuine need to substantially restore housing affordability in many markets throughout the covered nations.

Source: News Formal (newsformal.com)

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