its mind boggling to even try to think why would 'commonwealth' use such a cheap trick? is it possible that this is 'the smartest' they can come up with ? or do they care so little? or is there nothing else?
it is downright embarassing...the bank with the most exposure to residential property (the experts) !!!
the real numbers from demographia survey...first twenty anyway...........kris rocks !
............Australia ? registered the worst housing affordability (the highest Median Multiple) in the history of the Survey Table 5 Severely Unaffordable Housing Markets Ranked by Severity of Housing Unaffordability
1 Canada Vancouver 9.3 2 Australia Sydney 9.1 3 Australia Sunshine Coast 9.0 4 Australia Gold Coast 8.6 5 United States Honolulu, HI 8.2 6 United Kingdom Bournemouth 8.1 7 Australia Melbourne 8.0 8 Canada Victoria 7.9 9 Australia Wollongong 7.5 10 Australia Adelaide 7.4 11 Australia Newcastle 7.2 12 United States Santa Cruz 7.2 13 Australia Darwin 7.1 14 Australia Mandurah 7.1 15 United Kingdom London (GLA) 7.1 16 Australia Bundaberg 7.0 16 United States New York 7.0 16 United States San Francisco, CA 7.0 19 Australia Perth 6.9 20 Australia Hobart 6.8 20 New Zealand Tauranga 6.8 22 Australia Brisbane 6.7 22 New Zealand Auckland 6.7 22 United Kingdom London Exurbs 6.7
Summary by Nation ll of the affordable markets were located in Canada and the United States, while most markets in Australia, New Zealand and the United Kingdom were severely unaffordable (Table 6). A summary of results by nation follows (Schedule 2). Australia: House prices have continued to rise in Australia (Figure 2), which registered the worst housing affordability (the highest Median Multiple) in the history of the Survey. Overall, housing in Australia is severely unaffordable, with a Median Multiple of 6.8, more than double the 3.0 historic maximum norm. Housing had been affordable in Australia in the late 1980s, with a Median Multiple of under 3.0. The Median Multiple remained at or under 3.5 until the late 1990s.
