Wednesday, April 26, 2023
Demographia International Housing Affordability looks at housing affordability in 94 major housing markets across Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom and the United States. The 2023 report covers the third quarter of 2022. Housing affordability by Demographia is given in the table below.
“Housing affordability in 2022 continued to reflect the huge price increases that occurred during the pandemic demand shock. Some housing affordability improvements have since occurred and more are likely as the demand shock is hopefully replaced by more normal market trends.”
– (Demographia, 2023)
Hong Kong is the least affordable with a median multiple of 18.8 followed by Sidney, Vancouver, Honolulu, San Jose, Los Angeles, Auckland, Melbourne and Toronto. Pittsburgh, Rochester, Cleveland and St Louis were the most affordable markets.
The report is available here.
A new paper by Albert Saiz (The Global Housing Affordability Crisis: Policy Options and Strategies) looks at potential policy interventions in response to the surge in housing prices and rents that have grown faster than incomes in many parts of the world. It identifies 30 different strategies to deal with the housing affordability crisis.
To read more, click here.
Demographia International Housing Affordability looks at housing affordability in 94 major housing markets across Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom and the United States. The 2023 report covers the third quarter of 2022. Housing affordability by Demographia is given in the table below.
“Housing affordability in 2022 continued to reflect the huge price increases that occurred during the pandemic demand shock. Some housing affordability improvements have since occurred and more are likely as the demand shock is hopefully replaced by more normal market trends.”
–
Posted by 2:48 PM
atLabels: Global Housing Watch
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