Australian cities have dominated a report into the least affordable cities in the world, with one coming in second.
"These increases began at about the same time that the Blair Labour government imposed a planning target for 60 per cent of new housing to be in fill . It will seek to ensure there is abundant developable land within and around cities, which they hope will prevent the artificial scarcity that drives up prices.The United States had five impossibly unaffordable markets, four of which are located in California.
"In the United States, the hours of work performed at home are now reported to be four times that of pre-pandemic 2019. "The net effect is that land values and house prices have become skewed against the middle-class, whose existence depends upon the very competitive land market destroyed by the planning orthodoxy.""There was a general improvement in housing affordability in 2023 but not enough to restore the more affordable pre-pandemic situation ," the report said.