Australian Cities Ranked Among World’s Least Affordable in Housing Report

Australian cities have once again garnered international attention for their housing affordability challenges, according to the latest Demographia International Housing Affordability Report. The report, which compares housing affordability across major global markets, has identified several Australian cities as among the least affordable in the world.

Among these cities, one stands out as ranking as the second most unaffordable city globally, underscoring the severity of the issue. The report’s findings highlight the significant gap between housing prices and average incomes in Australian urban centers, posing substantial barriers to homeownership for many residents.

The Demographia report analyzes data from various metropolitan areas worldwide, assessing affordability based on median house prices relative to median household incomes. Australian cities consistently rank poorly in these metrics, reflecting a longstanding trend of escalating housing costs outpacing income growth.

This recognition in the global report underscores the urgent need for effective housing policy reform in Australia to address affordability issues and ensure that housing remains accessible to all residents. As policymakers grapple with these challenges, the spotlight remains on finding sustainable solutions to alleviate the burden on aspiring homeowners and renters alike.