PHOTO: Auckland, New Zealand. FILE
What does London, New York, and San Francisco have in common? They all boast more affordable residential property markets than Auckland.
That’s right. New Zealand’s largest city is home to some of the least affordable housing in the entire world – but you might be somewhat relieved to know Auckland doesn’t (quite) top the list of the least affordable housing markets in the world.
According to the 2021 edition of the Demographia International Housing Affordability report, which compares house prices in relation to incomes in 92 major housing markets, these three cities boast residential property that is even more unaffordable than Auckland’s…
3. Sydney
We may be better than the Aussies when it comes to rugby and (at the time of writing) T20 cricket, but they still edge us when it comes to housing unaffordability. Auckland is ranked fourth, with Sydney in third place.
Other Australian cities that feature highly on the unaffordability scale include Melbourne (6th), Adelaide (13th), and Brisbane (18th).
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