An average house in Sydney costs eight times more than the average household income in the city. The unaffordability of the housing market is linked to the stricter approval procedure for new housing construction. These measures have significantly increased the cost of primary housing.
However, in three American cities where these procedures were also tightened – Atlanta, Houston and Dallas – prices remained stable.
According to Prian.ru citing The Daily Telegraph, the top ten most unaffordable also included the Australian cities of Melbourne, Perth, Brisbane and Adelaide.