Anyone looking to buy a house knows it is an expensive exercise.
But new data from the International Monetary Fund looking at household income, rent and housing prices around the world has shown just how much house prices have jumped in Australia.
The data shows that based on two measures – the ratio of house prices-to-income and the ratio of house prices-to-rent – Australian house prices have risen well beyond their long-term average and at a higher rate than most other countries in the world.
The house price-to-income ratio, a measure of the relative expense of a home for a typical household, shows Australian house prices have increased almost 31.6 per cent above the long-run average.
This ranks as the third-largest growth above the long-run house price-to-income ratio in the world, behind Belgium (49.5 per cent) and Canada (33.2 per cent).
Read the original article and more graphs. http://www.afr.com/p/national/australia_housing_boom_in_five_graphs_OEp5Bttj0dyWeE9zAEXxjM
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