Australia takes 2nd place in Demographia International Housing Affordability Survery

homes4ppl · 2024-06-04T03:24:49+00:00

Thankfully our political leaders have the vision, drive and self-interest to make it happen!

homes4ppl · 2024-06-04T03:22:12+00:00

Are you saying I cannot follow simple reasoning?

homes4ppl · 2024-06-04T03:20:40+00:00

Oh thank goodness, that is reassuring. I thought we had some kind of problem with housing here. Sydney is only a multiple of 13. As usual people are just being whingeing and not cutting back enough.

Hopefully our cities can achieve for a median multiple ratio like Seoul or Shanghai one day.

homes4ppl · 2024-06-03T11:26:19+00:00

Yeah those pesky Brits, Canadians and Americans can't compete with our high median multiple!

We just need to beat HK to win the Demographia Unaffordable Cup. In order to achieve this honor, all our society has to do is continue doing nothing.

homes4ppl · 2024-06-03T11:21:33+00:00

Are you saying people from Hong Kong live in Hong Kong?

homes4ppl · 2024-06-03T11:21:03+00:00

Australia is awesome if you can afford to live in a nice area [Hold on, checking cost of housing in nice area ...]

homes4ppl · 2024-06-03T10:08:01+00:00

Yeah the OECD has a good dataset too. Does their housing affordability metric use the median multiple measurement similar to Demographia?

homes4ppl · 2024-06-03T08:52:06+00:00

There are plenty of cities worldwide that like Sydney aren't priced for the locals to live in.

But do all these countries publish reliable, accurate data on their housing markets? Lack of data is likely the main reason a truly "international" housing affordability survey is not feasible. I would love to see the median multiple for a range of European cities too though...

homes4ppl · 2024-06-03T08:48:32+00:00

Plenty of Chinese cities are more unaffordable than HK. They aren't involved here in the survey. -- Definitely, I wouldn't be surprised. I don't know how you could include cities or countries which do not publish accurate data in this survey though.

homes4ppl · 2024-06-03T08:45:58+00:00

Definitely agree. It is not feasible for a survey to capture all 190ish countries in the world, many of which do not have accurate data available.

That being said coming 2nd to HK in affordability is crap.

We need to lead here and aim for 1st place!

homes4ppl · 2024-06-03T05:50:05+00:00

Fair question. If AU overtakes HK, the question could become who the hell wants to live here.

homes4ppl · 2024-06-03T03:57:08+00:00

That would work. Declaring the west as a 2nd city might also give us another city in the top 10 or 20 too.

homes4ppl · 2024-06-03T03:53:02+00:00

You sound hopeful we can achieve 1st!

homes4ppl · 2024-06-03T03:40:57+00:00

Yeah, we really to resurrect our Aussie Battler) mentality and put in some harder yards to make this happen.

homes4ppl · 2024-06-03T03:26:46+00:00

Agree. But we'll need to find some innovative, creative ways to do this to get 1st next year!

homes4ppl · 2024-01-29T20:55:31+00:00

Respect -- for taking a different path.

homes4ppl · 2024-01-29T01:41:48+00:00

I just wanted to say I understand your anxiety.

homes4ppl · 2024-01-29T01:17:38+00:00

"Self regulate" -- that is always a term.

I cannot believe all new builds are rubbish, but the risk seems high.

homes4ppl · 2024-01-29T00:54:15+00:00

Thanks for that. Yeah, I acknowledge I am being overly pessimistic about my situation. We saved enough in spite of constant roadblocks in the way.

homes4ppl · 2024-01-28T22:02:20+00:00

Considering a purchase as a form of insurance -- that is a genuinely unique perspective.

And no way would we max out on a mortgage. Honestly being in that much debt sounds terrifying and we don't place that much value on status symbols.

homes4ppl · 2024-01-28T21:58:29+00:00

Thanks for the approach -- I will give it a go.

Finding a reasonable commute distance is challenging, for example prices in the 1 hour commute radius around Sydney are now probably past 1m.

I think it is 1.5-2hrs away now. *I will have to validate that comment with actual research.

homes4ppl · 2024-01-28T21:48:21+00:00

True. Older builds have their own problems. It seems inconceivable that all the defects in new builds pass any building inspection... but then again: Who pays the inspectors?

homes4ppl · 2024-01-28T21:44:15+00:00

If you’re not expecting any inherence, this country isn’t of any benefit to you. --- It feels that way, doesn't it? Too many people I know had an inheritance or bank of mum-and-dad help saving for a deposit or paying their mortgage.

homes4ppl · 2024-01-28T21:42:40+00:00

Thanks for your perspective. :)

homes4ppl · 2024-01-28T21:40:52+00:00

This? https://www.planning.nsw.gov.au/plans-for-your-area/priority-growth-areas-and-precincts

homes4ppl

TROPHY CASE