PHOTO: JOHN BISSET/STUFF New Zealand has the highest house price to rent ratio in the world, and the highest house price compared to income.
New Zealand and Canada are the two countries with the most unsustainable housing markets in the world, according to Bloomberg.
Bloomberg economist Niraj Shah’s “housing bubble dashboard” showed the two countries holding the top spots.
They have the highest cost of housing compared with wages, beating Australia, the UK, Norway and Sweden – which are also vulnerable.
New Zealand has the highest house price to rent ratio in the world, and the highest house price compared to income (a ratio of 156.8), while Canada has the highest real house prices and the biggest percentage of credit to households, with New Zealand just behind, according to Shah.
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