CANADA, January 21, 2018 – The Frontier Centre for Public Policy has just released the 14th Annual Demographia International Housing Affordability Survey. The survey is prepared by Wendell Cox of Demographia (USA) and Hugh Pavletich of Performance Urban Planning (New Zealand). This annual survey examines international housing affordability across 293 metropolitan housing markets (metropolitan areas) in nine countries (Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the United Kingdom and the United States) for the third quarter of 2017.
Cox and Pavletich use the international standard—Median Multiple—to rank housing markets across nine countries. The Median Multiple standard is recommended by the World Bank, the United Nations, the Joint Center for Housing Studies, and Harvard University. Several international organizations use this standard, such as, the Organization for Economic Cooperation and Development, the International Monetary Fund, and The Economist when comparing housing affordability across housing markets.
Some of the findings in the survey: 10 affordable major housing markets, all in the United States, 28 severely unaffordable major housing markets in Australia, New Zealand, and China. Thirteen of the major markets in the United States are severely unaffordable, and six in the United Kingdom.
Canada’s six major markets have a seriously unaffordable Median Multiple.
To read this intriguing survey and to find out how your city ranks for Housing Affordability, click here: dhi2018 fcpp