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


Local Real Estate

finda logo
Featured Real Estate
Thoughtfully Designed... $360,000
Villa 3 1 2
Mortgagee in Possession... Offers Over...
Residential Land 0 0
Potential Plus In A Top... $239,000
House 3 2 1
Sonaisali on Alice... Offers Over...
House 4 2 3

Join the Community.

Get your local news, your way.

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.


Marketplace

Sponsored Offers

Compare & Save