The unaffordability of Auckland houses is a hot topic.
But are there other cities in the world that have it worse?
Our business partners over at Westpac have published this interesting article:
This survey recorded a median Auckland house price of $613,000, with a median household income of $75,100. Since that data was collected, the median house price in Auckland has risen to $755,000 and our median household income to $85,212, giving us a current multiple where the median house price is 8.86 times the median income, according to this table.
Little old Auckland is 9th in the "comparable" world for housing unafordability.
Look out Hamilton - everyone is heading your way and JAFA's are about to discover what is on the other side of the Bombays!