Sydney And Melbourne In Top 5 Least Affordable Cities Globally
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Sydney And Melbourne In Top 5 Least Affordable Cities Globally

Other Australian cities make the top 20 least affordable.

By Terry Christodoulou
Thu, Mar 17, 2022Grey Clock < 1 min

Australia’s house prices have been listed as some of the least affordable across the globe, with new data revealing Sydney and Melbourne sit in the top five least affordable cities.

Demographia’s International Housing Affordability 2022 Edition revealed Sydney was the second least affordable city to buy a house, with the median price 15 times more than the average household income in 2021.

The NSW capital was only bested by Hong Kong, where prices are 23 times the household income.

Melbourne came in fifth, with the median house price now 12 times the average household income.

Other Australian capitals were considered “severely unaffordable” by the report, with house prices five times the average incomes.

Elsewhere, Adelaide has a median price eight times the average household income, while Brisbane and Perth, with house prices seven times higher than incomes, were included in the top 20 least affordable cities across the globe.

Of note, the report revealed the number of markets considered severely unaffordable rose by 60% in 2021, compared with 2019 before the pandemic struck.

The number of markets considered affordable or moderately affordable declined by nearly two thirds.

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The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au