The Great Real Estate Rip-Off – Razors Edge (blog)
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The Great Real Estate Rip-Off
Razors Edge (blog) A new study has ranked Sydney with the least affordable housing market in the world, second only to Vancouver. Generally, if buyers spend more than 35% of their gross income on their housing repayments they are considered to be in mortgage stress. In Sydney the average spent is 50%. The Demographia International Housing Affordability Survey looked at over 270 markets and found that Melbourne and Adelaide were also some of the most expensive cities. Out of the six countries surveyed Australia was the least affordable. The government is being called to solve this housing problem. |