Survey Highlights Housing Affordability Challenges in Major Capitals

A recent survey conducted by United States academics has underscored the severe challenges middle-income home buyers face in major capitals such as Sydney and Melbourne. The report points out that these cities rank among the least affordable housing markets globally, primarily due to high housing costs exacerbated by stringent land use policies and urban planning strategies.

The survey also discusses how the shift to remote work has further influenced housing affordability dynamics, potentially reshaping demand and pricing in urban areas.

Amidst these challenges, the study praises Singapore’s public housing model as a successful example. Singapore, once grappling with a housing crisis, has transformed into one of the most affordable housing markets globally through effective public housing initiatives.

The report concludes by advocating for inclusive and fair housing schemes to address the pressing issue of housing affordability. It emphasizes the need for policy interventions that can make housing accessible to a broader segment of the population.