Property

Our houses are 26% over-valued

AUSTRALIA is running mid-field in the list of the world's most over-valued housing markets.

Economist magazine, which tracks price movements in 21 countries, said years of dizzying ascents were coming to an end for much of the world.

Compared to the amount of rental income houses generate, Australia ranks seventh lost expensive in the world - Australian houses are 45% over-valued, compared to top-of-the-list Canada on 77%.

When compared to the disposable incomes of Australians, our houses are 26% over-valued - fifth on the world list.

The average figure based on the two comparisons puts Australian houses in seventh place at 36% over-valued.

The Economist found house prices fell in 12 of the 21 countries tracked and continue to plummet in Ireland.

After dropping by a third from their 2006 peak, prices in America now stand at 19% below fair value, the magazine found.

Topics:  housing, rentals




Where will 2016 sit in July Carnival history?

Hong Kong based owner Patrick Fu and his son bring back Ramornie Handicap winner Smart Volatility back to scale.

We look back at the big moments of the 2016 July Racing Carnival

NSW economy not so good according to business survey

A recent survey reveals businesses in the Northern Rivers are less optimistic on the current state of the NSW economy than earlier this year.

Survey shows Northern Rivers businesses less confident.

Latest deals and offers

Superheroes of the big screen enjoy sounds of Splendour

CHRIS Hemsworth and his Avengers mates drop by Byron festival.

Indigenous artist shows tourists secrets of Aboriginal painting

Ever thought "I could do that" about Aboriginal art?

Dynamic pics from Splendour Day 1

The Strokes perform at Splendour in the Grass 2016. Photo Marc Stapelberg / The Northern Star

Check out the latest pictures from Splendour in the Grass.

Bindi Irwin: 18 magic photos to mark her 18th birthday

Bindi Irwin with a python.

Photos: Bindi Irwin from babyhood to 18

Aussie director makes his mark on new Roots mini-series

Malachi Kirby as Kunta Kinte in a scene from the TV series Roots.

BRUCE Beresford behind final episode of remake of iconic series.

Wham bam, thank you TAM

Regional TAM is increasing its audience measurement services by 50%.

Regional television viewers finally getting the credit we deserve

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd

Ecco Ripley sales run sparks prime release

MOVING IN: Sekisui House has announced the release of more residential blocks at Ecco Ripley.

Sekisui House is preparing to unveil more land at Ecco Ripley

Massive residential 9-storey high-rise hit by delays

An artist’s impression of the eight-storey-high apartment complex that Bernoth Holdings wants to build in South Toowoomba, next to the City Golf Club.

Developer struggles to get approved high-rise development started