Housing Affordability Survey 2018| Australia again seen as the least affordable housing in the world

AND The Wooden Spoon Goes To SYDNEY

Housing affordability survey says Sydney is the least affordable housing market in Australia. No prizes for guessing that one.

I’ve turned a summary of the report by Leith Van Olsen from MacroBusiness into a short video.

Contrary to the article from The Conversation, Demographica have a list of causes for the affordable housing crisis that are along more mainstream grounds.

Either way the supply of affordable housing is a huge opportunity for property developers and property investors who can think innovatively.

Whether you’re an property investor or a property developer MaxiLife Achievable cooperative Housing (NSW Registered Cooperative) can

show you a number of exciting new ways to profit from this underserved market.

This year’s report assesses 293 urban markets in nine countries: Australia, Canada, Hong Kong, Ireland, Japan, New Zealand, Singapore, United Kingdom, and the United States as at the third quarter of 2017.

According to the Survey, housing affordability remained poor across most major metropolitan markets in 2017 (i.e. with over 1 million people).

 

Sydney The Worst In Australia

What Factors Were Identified By The Affordable Housing Survey

  1. The lack of a competitive market that produces housing
  2. Urban containment making it virtually impossible to build low cost suburban tract housing
  3. Interest in new supply has been largely limited to higher density infill, while leaving the urban periphery restrictions in place
  4. Despite high-density building rates housing affordability has continued to worsen
  5. Almost all of the growth in Australian housing values (relative to GDP) has been in rising land values (See below)

2018 Demographia International Housing Affordability Survey – MacroBusiness

A key reason for this land price escalation in Australia (as well as in New Zealand, the United Kingdom, and the expensive markets of the United States and Canada) is that the market’s ability to quickly provide low priced new housing supply is being hampered by restrictive land use regulations, many of which have come into effect since the mid-1990s (Sydney has had long-standing limits on housing development on the urban fringe). Demographia describes the key features and consequences of restrictive housing markets as follows: 2018 Demographia International Housing Affordability Survey – MacroBusiness

Download the full report here

 

[download id=”3967″]

2018 Demographia International Housing Affordability Survey

Summary
Affordable Housing Survey 2018
Article Name
Affordable Housing Survey 2018
Description
Housing affordability survey rates Sydney second only to Hong Kong for lack of affordable housing. Check out our video summary. Ask us about membership, whether you're a developer or investor MaxiLife can help you profit from affordable housing.
Author
Publisher Name
MaxiLife Achievable cooperative Housing Limited
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