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 markets 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.
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