Australian property market sixth most expensive in world - yet still relatively affordable
Australians trying to buy a home can quite rightly feel aggrieved at property prices that are among the highest in the world, but when income is factored in the picture is quite different.
(Image source: Anna Covic/Shutterstock.com)
In raw dollar terms, Australia has the sixth most expensive property prices in the world but the news isn’t quite as grim as it might sound.
Based on the cost of a 100-square-metre apartment, Australia’s US$590,376 places it behind only fifth-placed Norway, Austria, Luxembourg, South Korea and the most expensive, Switzerland, where the average price reaches a staggering $1,641,618 (all prices in US dollars for comparative purposes; the AUD bough…
