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- OPINION: This week, Demographia released their annual housing affordability survey. It has become a sad ritual at the beginning of each year to find out how unaffordable property has become across much of the English-speaking world.
House prices have gone through the roof. The benchmark for affordability used to be for an average house to cost about three times an average household’s income. No longer. In Auckland it is now 10 times income, in Sydney 12 times and in Hong Kong 18 times.
