by It’s been confirmed – Australia is one of the toughest places in the world to buy property.
The 2023 Demographia International Housing Affordability Scheme report found that all five of Australia’s major property markets – Sydney, Melbourne, Brisbane, Adelaide, and Perth – had been “severely unaffordable” since the turn of the millennium. Two of those markets are in the top 10 most expensive places to buy – one of them coming in second place.
The report used the “median multiple” to rate affordability – a market’s median house price divided by the gross median household income. Anything over 5.1 was “severely unaffordable”.
Using that method, Demographia found the top 10 most expensive places to buy property in all the surveyed countries. Click or scroll through to count them down.
