The places hardest to afford a home (infographic)

10 March 2020
228 Views

Big cities like London or San Francisco are well-known for their expensive real estate markets. But there are also a lot of housing markets you wouldn’t necessarily expect among the least affordable – that includes several in Australia and New Zealand.

According to the 2020 International Housing Affordability Survey by Demographia, three out of the 10 least affordable housing markets are in Australia and New Zealand and three more are located in the United States. The least affordable housing market is Hong Kong. Here, the median house price is almost 21 times as high as the median annual gross household income. After Hong Kong, New Zealand was the least affordable location in the study, which looked at the U.S., Canada, the UK, Hong Kong, Singapore, Australia, New Zealand and Ireland, followed by Australia.

The makers of the study note that Australian major markets (including Sydney and Melbourne) have all seen reduction or stagnation in house prices recently, but that prices remain at a high level. They credit the severe unaffordability in Australia and New Zealand to the countries’ urban consolidation laws, that mostly prohibit real estate development outside of pre-existing urban areas.

source statista Infographic: The Places Where It’s Hardest to Afford a Home | Statista

You may be interested

Telegraph: When coronavirus ends, Greece is the first spot to visit
GREECE
shares60 views
GREECE
shares60 views

Telegraph: When coronavirus ends, Greece is the first spot to visit

Panos - Apr 09, 2020

Telegraph’s digital traveller writer Oliver Smith says Greece will be his first holiday destination after the coronavirus crisis ends. In…

The Biggest Financial Contributors To The WHO
GREECE
shares53 views
GREECE
shares53 views

The Biggest Financial Contributors To The WHO

Panos - Apr 09, 2020

As the slow initial U.S. response to the COVID-19 pandemic comes under increasing scrutiny, President Trump has denied any responsibility…

Christine Lagarde: The ECB helps firms & families
FINANCE
shares61 views
FINANCE
shares61 views

Christine Lagarde: The ECB helps firms & families

Panos - Apr 09, 2020

“If not all countries are cured, the others will suffer. Solidarity is in fact self-interest” By Christine Lagarde, President of…

Leave a Comment

Your email address will not be published.