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File:Inner City, Apartment Living (4051721389).jpg

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Sydney, Australia

Going through the list of the top 20 least affordable markets in the survey, 8 are located in AU with the #1 spot belonging to the Sunshine Coast of Queensland (an amazing 9.8 ranking) and the #3 spot to the Gold Coast of Queensland (8.7 ranking). In fact, the median score for the Australian cities was a 6.0, versus 3.5 for Canada, 5.4 for Ireland, 5.7 for the UK and 3.2 for the US. Commenting on the AU housing markets the researchers conclude:

Unlike the other national markets in the Survey¸ Australia has thus far been able to avoid material house price declines. It seems likely that, sooner or later, the inherent instability and unsustainability that characterizes bubbles will lead to house price declines in Australia. However, were it possible for Australia to retain its highly over-valued house prices, there would still be a significant cost. Future generations would pay far more for housing than in the past, and Australia’s relative standard of living would decline.

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Source Inner City, Apartment Living
Author Alex Proimos from Sydney, Australia

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current13:57, 18 April 2013Thumbnail for version as of 13:57, 18 April 20134,368 × 2,912 (3.53 MB)File Upload Bot (Magnus Manske) (talk | contribs)Transferred from Flickr by User:russavia

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