Sydney And Melbourne In Top 5 Least Affordable Cities Globally
Other Australian cities make the top 20 least affordable.
Other Australian cities make the top 20 least affordable.
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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There’s no shortage of design inspiration online but nothing beats the joy of spending an afternoon immersing yourself in a good interior design book. Edited, carefully curated and, above all, designed, these titles take you behind the scenes of some of the world’s most beautiful interiors in a considered way. Think of it like the difference between listening to a few tunes on Spotify versus releasing a thoughtfully crafted studio album. We’ve assembled our top six of interior design books on the market right now for your viewing and reading pleasure.
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