Sydney is world’s third least affordable housing market, survey says

Font size :
The Demographia International Housing Affordability Survey has placed Sydney at the third spot of the world’s most expensive housing markets, also citing Australia as among the “severely unaffordable” countries.
 
The Demographia survey ranks markets by using a house price to income ratio, where it found that Sydney’s median house prices is 9.8 times median income.
 
Sydney is joined by Vancouver and Hong Kong, which are both ranked as less affordable.
 
Homebuyers in Vancouver could face prices 10.6 times median incomes, while Hong Kong median house prices were 17 times median income, the survey claimed.
 
Moreover, all five major markets across Australia were rated as severely unaffordable. Demographia found the median house price across major markets to be 5.5 times the median income.
 
Elsewhere, the United States was named the most affordable housing market in the survey, with 37 major markets rated as affordable or moderately affordable, and only nine markets rated as severely unaffordable.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Friday, Sep 22, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords