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
Half Acre Land ... $65,000
Residential Land 0 0
The Summit Village ... $230,000
House 3 1 2
Amazing Property ... $380,000
House 3 2 2

Featured Jobs

finda logo

Warwick jobs listed daily


Featured Jobs
FULL TIME WEB... Fortitude Valley Full Time 75,000 - 90,000


Local Partners

LATEST DEALS AND OFFERS

Great Gardening...

Win a $500 gardening gift voucher
Learn More

Cars For Sale

Find cars for sale online now.
Learn More

Property Listings

Post an ad from $30
Learn More

Local Profile

Stay Connected

Get the news as it happens, in your inbox

You can change the newsletters you are subscribed to when you edit your profile

Edit Profile


Special Offers

Latest deals and offers

View today's ePaper!

Read the digital edition
Learn More

Horoscopes

Libra

No one can cramp your style today as the Moon and Mars indicate a strong drive to get mobile and physical. This is advisable. Someone is...

read more

Marketplace

Special Offers & Promotions

Compare & Save