Brissie property less affordable than London

We took that title from Melbourne as we surpassed it in the property price ranks in early 2024.

But here’s a comparison you might not have seen coming.

Brissie property prices are now less affordable than London.

The markets are not directly comparable with differing property types and prices.

But some clever number crunchers at Chapman University in the US have ranked global cities’ affordability based on median house prices compared to median household incomes in their latest International Housing Affordability report.

Based on data from the third quarter of 2024, Brissie was the 11^th least affordable global city with a median house price 9.3 times higher than median household income.

This places us as less affordable than London, which took out the 12^th spot with a ‘median multiple’ of 9.1.

Hong Kong was the most unaffordable market with median house prices 14.4 times higher than the median household income.

Sydney was the least affordable Aussie city with a median multiple of 13.8.

Check out the least affordable global cities based on the median house price as a multiple of median household income:

1. Hong Kong 14.4
2. Sydney 13.8
3. San Jose 12.1
4. Vancouver 11.8
5. Los Angeles 11.2
6. Adelaide 10.9
7. Honolulu 10.8
8. San Francisco 10.0
9. Melbourne 9.7
10. San Diego 9.5
11. Brisbane 9.3
12. Greater London 9.1

Want to learn more about the Brissie property market? Contact us for a chat about anything real estate.