Bubble alert!

via Marcus: AUSTRALIAN HOUSING “SERIOUSLY UNAFFORDABLE” – The 6th Annual Demographia International Housing Affordability Survey 2010 just out, which looks at 272 housing markets across Australia, Ireland, New Zealand, the United Kingdom, Canada and the United States, tells us that six of the 10 least affordable housing markets out of the 272 are in Australia with our nation’s median house price divided by gross median household income multiple hitting 6.8x when 3.0x is classed as “Affordable” and over 5.1 (top of the scale) is “Severely unaffordable”. Sydney and Perth multiples were over 9x.

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