Why Australian property is among the world’s most expensive, and what’s driving it
New global comparisons reveal why Australian housing is so costly and the economic forces that keep pushing prices higher.
Australian property prices have taken off but income levels are also high by international standards. (Image source: Elias Bitar/Shutterstock.com)
Across several credible benchmarks, Australia stands out as one of the world’s most expensive places to buy a home.
One recent global comparison of 60 countries put Australia in sixth place for the price of a ‘typical’ apartment purchase cost per 100sqm, ranking behind Norway, Austria, Luxembourg, South Korea, and most expensive, Switzerland. This result certainly underscores just how expensive Australian housing has become on the world stage.
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