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Living On Coast Is Unaffordable

Sunshine Coast Daily

By Anne-Louise Brown

The Sunshine Coast: beautiful but unaffordable

New York, London, Maroochydore?

According to the sixth Demographia International Affordability Survey, the Sunshine Coast is the third least affordable place to live in the world.

The survey ranked housing affordability in 272 markets in six countries Australia, the US, UK, Canada, Ireland and New Zealand.

Of 62 markets identified as unaffordable, 22 were in Australia, with two of the top 10 the Sunshine Coast and the Gold Coast in south-east Queensland.

Cities and towns were given scores between three, for affordable, and 5.1 and above for severely unaffordable, based on median house prices and gross annual median household incomes.

The Sunshine Coast scored nine, closely followed by the Gold Coast at number four, with a score of 8.6.

Brisbane came in at 22, but was still considered severely unaffordable with a score of 6.7.

Sydney was the least affordable location in Australia, with a score of 9.1, and came second in the international rankings.

Vancouver, Canada, was rated the most unaffordable place to live.

Toowoomba and Ballarat were ranked as the most affordable in the country.

However, Jean Hamer, a real estate agency principal and chairwoman of the Coast branch of the Real Estate Institute of Queensland, said the survey figures were a misrepresentation of the regions property market.

The survey is compiled by comparing the property prices with the income of people, Ms Hamer said.

On the Coast we have a huge number of high-priced properties, but household incomes that are generally low, because there are a lot of retirees living here.

The other factor is that owners of some of the big-ticket properties dont actually live here, so their incomes were not included.

Ms Hamer said there were still plenty of affordable homes on the Coast, just not on the in-demand beachside strip.

In suburbs like Nambour there are still affordable homes, Ms Hamer said. The expensive properties have just skewed the survey results.

LONDON

Population: 5.5 million

Average house price: $A465,000

Average income: $A61,000

Source: UK Bureau of Statistics, The Guardian, BBC

THE COAST

Population: 287,000

Average house price: $460,000

Average income: $47,900

Source: Sunshine Coast Regional Council, Australian Bureau of Statistics

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Living On Coast Is Unaffordable

Sunshine Coast Daily

By Anne-Louise Brown

The Sunshine Coast: beautiful but unaffordable

New York, London, Maroochydore?

According to the sixth Demographia International Affordability Survey, the Sunshine Coast is the third least affordable place to live in the world.

The survey ranked housing affordability in 272 markets in six countries Australia, the US, UK, Canada, Ireland and New Zealand.

Of 62 markets identified as unaffordable, 22 were in Australia, with two of the top 10 the Sunshine Coast and the Gold Coast in south-east Queensland.

Cities and towns were given scores between three, for affordable, and 5.1 and above for severely unaffordable, based on median house prices and gross annual median household incomes.

The Sunshine Coast scored nine, closely followed by the Gold Coast at number four, with a score of 8.6.

Brisbane came in at 22, but was still considered severely unaffordable with a score of 6.7.

Sydney was the least affordable location in Australia, with a score of 9.1, and came second in the international rankings.

Vancouver, Canada, was rated the most unaffordable place to live.

Toowoomba and Ballarat were ranked as the most affordable in the country.

However, Jean Hamer, a real estate agency principal and chairwoman of the Coast branch of the Real Estate Institute of Queensland, said the survey figures were a misrepresentation of the regions property market.

The survey is compiled by comparing the property prices with the income of people, Ms Hamer said.

On the Coast we have a huge number of high-priced properties, but household incomes that are generally low, because there are a lot of retirees living here.

The other factor is that owners of some of the big-ticket properties dont actually live here, so their incomes were not included.

Ms Hamer said there were still plenty of affordable homes on the Coast, just not on the in-demand beachside strip.

In suburbs like Nambour there are still affordable homes, Ms Hamer said. The expensive properties have just skewed the survey results.

LONDON

Population: 5.5 million

Average house price: $A465,000

Average income: $A61,000

Source: UK Bureau of Statistics, The Guardian, BBC

THE COAST

Population: 287,000

Average house price: $460,000

Average income: $47,900

Source: Sunshine Coast Regional Council, Australian Bureau of Statistics

Quick Links:

Our Newsletter:

Featured News:

Millthorpe, NSW...would you retire to the area?

Best Place To Retire In Australia

Retire To Townsville? What's In Their New Resident's Kit?

Sir Alex Ferguson Says He's 'Too Old' To Retire

Living On Coast Is Unaffordable

Sunshine Coast Daily

By Anne-Louise Brown

The Sunshine Coast: beautiful but unaffordable

New York, London, Maroochydore?

According to the sixth Demographia International Affordability Survey, the Sunshine Coast is the third least affordable place to live in the world.

The survey ranked housing affordability in 272 markets in six countries  Australia, the US, UK, Canada, Ireland and New Zealand.

Of 62 markets identified as unaffordable, 22 were in Australia, with two of the top 10  the Sunshine Coast and the Gold Coast  in south-east Queensland.

Cities and towns were given scores between three, for affordable, and 5.1 and above for severely unaffordable, based on median house prices and gross annual median household incomes.

The Sunshine Coast scored nine, closely followed by the Gold Coast at number four, with a score of 8.6.

Brisbane came in at 22, but was still considered severely unaffordable with a score of 6.7.

Sydney was the least affordable location in Australia, with a score of 9.1, and came second in the international rankings.

Vancouver, Canada, was rated the most unaffordable place to live.

Toowoomba and Ballarat were ranked as the most affordable in the country.

However, Jean Hamer, a real estate agency principal and chairwoman of the Coast branch of the Real Estate Institute of Queensland, said the survey figures were a misrepresentation of the regions property market.

The survey is compiled by comparing the property prices with the income of people, Ms Hamer said.

On the Coast we have a huge number of high-priced properties, but household incomes that are generally low, because there are a lot of retirees living here.

The other factor is that owners of some of the big-ticket properties dont actually live here, so their incomes were not included.

Ms Hamer said there were still plenty of affordable homes on the Coast, just not on the in-demand beachside strip.

In suburbs like Nambour there are still affordable homes, Ms Hamer said. The expensive properties have just skewed the survey results.

LONDON

Population: 5.5 million

Average house price: $A465,000

Average income: $A61,000

Source: UK Bureau of Statistics, The Guardian, BBC

THE COAST

Population: 287,000

Average house price: $460,000

Average income: $47,900

Source: Sunshine Coast Regional Council, Australian Bureau of Statistics

The survey ranked housing affordability in 272 markets in six countries Australia, the US, UK, Canada, Ireland and New Zealand.

Of 62 markets identified as unaffordable, 22 were in Australia, with two of the top 10 the Sunshine Coast and the Gold Coast in south-east Queensland.

However, Jean Hamer, a real estate agency principal and chairwoman of the Coast branch of the Real Estate Institute of Queensland, said the survey figures were a misrepresentation of the regions property market.

The survey is compiled by comparing the property prices with the income of people, Ms Hamer said.

On the Coast we have a huge number of high-priced properties, but household incomes that are generally low, because there are a lot of retirees living here.

The other factor is that owners of some of the big-ticket properties dont actually live here, so their incomes were not included.

In suburbs like Nambour there are still affordable homes, Ms Hamer said. The expensive properties have just skewed the survey results.