Rangi if you base it on PPP income that USD being 1 and correct...

Rangi if you base it on PPP income that USD being 1 and correct and other currency's being over valued or under valued.
Canadian household income is $51,951 vs Australian house hold income $39,000

or you can look at it
CAD household median income $63,900 vs AUD $53,404 These are net figures and few years old.

You apply the same PPP formula to houses you get $234,952 for suburban Toronto house vs $346,808 for Bankstown. So you could assume as i said earlier we are 30% over priced than Canada.

Canada has 6.2 x nett household income to house value
Australia has 11.04 nett household income to house value.

Obviously there is room for error in my figures as I haven't spend hours researching but you get the picture i'm sure.