http://www.abc.net.au/news/stories/2009/01/26/2474283.htmhttp://www.abc.net.au/news/stories/2009/01/26/2474283.htm
Housing affordability not as bad as survey claims: analyst
Posted 5 hours 10 minutes ago
Updated 4 hours 7 minutes ago
No Australian towns or cities made it into the survey's list of 87 affordable housing markets. (ABC News: Damien Larkins)
A leading property analyst says a survey, which rates Australia as having some of the world's most expensive housing markets, does not take a large enough sample of countries into account.
The fifth annual Demographia International Housing Affordability Survey ranks the Sunshine and Gold Coasts in Queensland, and Sydney in New South Wales, among the five least affordable housing markets.
The survey sample included 265 markets in Australia, Canada, Ireland, New Zealand, the UK and the US, comparing median house prices with median household incomes.
No Australian towns or cities made it into the survey's list of 87 affordable housing markets.
But Louis Christopher from the investment research group, Adviser Edge, says if the survey took Asian countries and more of Europe into account, Australia would not rate quite so highly.
"If we included most of the first world, we would have been in a situation where we probably would have been in the middle of the road, perhaps getting towards the high end, but certainly not at or near the very top in my opinion," he said.
Mr Christopher says because affordability can be measured a number of different ways, the findings can be skewed.
"On the break-up of a price per square meter basis, Australia's still looking quite affordable," he said.
"It's one thing to compare a house in Sydney with a two-bedroom terrace in the middle of London, and judge our property as being far more expensive when the reality is on a price per square metre basis, we've really got it made."
Housing affordability not as bad as survey claims
- Thread starter BoatBoy
- Start date
You've got to take these kinds of reports with a grain of salt. Adelaide has 200K houses and 2M+ houses. Is it affordable or not?? This report says very unaffordable yet there are less people per room per household now than ever before.
You've got realestate in some third world countries where 2 families share a 1 or 2 br house and then you've got single pensioners living on their own affording the rent on a nice 2 bed unit in a decent suburb 7 km from the Adelaide CBD (know of a gent in this situation)
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You've got realestate in some third world countries where 2 families share a 1 or 2 br house and then you've got single pensioners living on their own affording the rent on a nice 2 bed unit in a decent suburb 7 km from the Adelaide CBD (know of a gent in this situation)
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