Survey: Australian and New Zealand homes the least affordable in the world
Feb 20th 2008, 3:56 am
#1
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Location: Yorkshire to Melbourne (2007) Melbourne to Sydney (2008) Here to stay!
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Survey: Australian and New Zealand homes the least affordable in the world
Was sent the below summary by the Property Council of Australia, whose mailing list I am on. I should add I haven't read the survey and have no view on what the summary claims.
DEMOGRAPHIA SURVEY – MELBOURNE ALMOST AS EXPENSIVE AS SYDNEY?
Australian and New Zealand homes are the least affordable in the world, according to the 2008 Demographia study of International Housing Affordability.
The study surveys 227 cities and Australia scored 18 cities in the top 50 list of severely unaffordable markets. The survey revealed that on average, Australian families are forced to spend 6.1 times their entire household income to buy a typical home. This figure rises to 7.3 for families in Melbourne.
The survey backs the Property Council's view that the affordability crisis is caused by land rationing, excessive development charges and dysfunctional development assessment.
To view a copy of the Demographia survey results go to www.demographia.com
Australian and New Zealand homes are the least affordable in the world, according to the 2008 Demographia study of International Housing Affordability.
The study surveys 227 cities and Australia scored 18 cities in the top 50 list of severely unaffordable markets. The survey revealed that on average, Australian families are forced to spend 6.1 times their entire household income to buy a typical home. This figure rises to 7.3 for families in Melbourne.
The survey backs the Property Council's view that the affordability crisis is caused by land rationing, excessive development charges and dysfunctional development assessment.
To view a copy of the Demographia survey results go to www.demographia.com
Feb 20th 2008, 3:58 am
#2
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Re: Survey: Australian and New Zealand homes the least affordable in the world
Doesn't surprise me. Maybe the houses would be worth it if they were built properly.
Feb 20th 2008, 3:59 am
#3
Aussie lost in the UK
Joined: Jun 2007
Location: Terrigal, NSW Central Coast
Posts: 682
Re: Survey: Australian and New Zealand homes the least affordable in the world
Thats why I live on the beach, out the back of a combi, with a surfboard, a dog and a fishing rod....
Ahhhhh.....this is the life!
Ahhhhh.....this is the life!
Feb 20th 2008, 4:02 am
#4
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Re: Survey: Australian and New Zealand homes the least affordable in the world
Feb 20th 2008, 8:56 pm
#5
Aussie lost in the UK
Joined: Jun 2007
Location: Terrigal, NSW Central Coast
Posts: 682
Re: Survey: Australian and New Zealand homes the least affordable in the world
The only thing he spent any money on was the bathroom - it was HUGE and was like the bathroom of a 5 star hotel, massive bath with fold out windows overlooking the bush....
When I lived there I used to say I was 'camping with an ensuite' - terrific place........
although I do like carpet these days.....
Feb 20th 2008, 9:14 pm
#6
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Re: Survey: Australian and New Zealand homes the least affordable in the world
Hi.
Had a quick read and not too sure what to make of it. These surveys wherever they come from are at times a bit hit and miss in my opinion.
I did not read all the many pages what is the basis of their findings, are they relaing it to average income x 4 (average morgtage versus house prices e.t.c)
No knocking Wales but Newport is on the list? The average house in Newport is still way below the U.K average.
Had a quick read and not too sure what to make of it. These surveys wherever they come from are at times a bit hit and miss in my opinion.
I did not read all the many pages what is the basis of their findings, are they relaing it to average income x 4 (average morgtage versus house prices e.t.c)
No knocking Wales but Newport is on the list? The average house in Newport is still way below the U.K average.
Last edited by Funky Monkey; Feb 20th 2008 at 9:18 pm.
Feb 20th 2008, 11:08 pm
#7
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Re: Survey: Australian and New Zealand homes the least affordable in the world
Feb 22nd 2008, 4:42 pm
#9
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Re: Survey: Australian and New Zealand homes the least affordable in the world
Thats my point with these surveys, take them with a pinch of salt. The salaries are well below average so it takes a survey to tell us that. Many of the bar and cafe staff around Mayfair in London cannot afford a flat in the Mayfair area so it does not really tell us much that is not common sense does it 
