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1.Market Observations

22 Jan 2013 (The Age) – Great Australian dream remains ‘unaffordable’ despite price falls

(22 Jan 2013, The Age, p3, Simon Johanson and Carolyn Webb)

‘AUSTRALIA still has the most unaffordable housing markets in the world despite two years of stagnant or falling house prices, according to the latest Demographia International Housing Affordability Survey.’

‘Ahead of New Zealand, United Kingdom, Ireland and Canada, Australia has the largest number of housing markets that are classified as ”severely or seriously unaffordable”, the ninth annual survey of its kind reveals.’

‘The survey shows Sydney is the third most expensive major housing market in the world, with a median multiple of 8.3, following Vancouver in Canada with a multiple of 9.5, and, most expensive, Hong Kong where the multiple is 13.5.’

Read more at TheAge.com.au

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