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CoreLogic house prices released as Melbourne and Sydney rank in world’s least affordable housing market

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Two Australian cities have featured near the top in a global list they certainly didn’t want to be a part of.

Sydney and Melbourne were ranked third and sixth respectively on a new list of the world’s least affordable housing markets.

Produced as part of the Demographia International Housing Affordability Survey, the cities were ranked using a house price to income ratio.

On its scale, any city scoring above a 5.1 is considered “severely unaffordable”.

Sydney scored 11.8 while Melbourne…



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