Property in Australia is affordable, contrary to the beliefs of many media commentators.
Terry Ryder, founder of real estate advice site hotspotting.com.au, wrote in a piece for the Australian newspaper that a price bubble, affordability crisis and exceptional property price levels have all been dreamed up.
He wrote that the media seems to favour the views of those who claim the Australian property market is in crisis.
Mr Ryder said it is ironic that people claim Australian property has become too expensive, as the country had a slow year for price growth at around three per cent, after adjustment for inflation.
"It's also odd to claim our homes are unaffordable when we have, still, one of the highest home ownership rates on the planet," he added.
Last month, the Property Council of Australia claimed that local councils could easily make property in the country more affordable by cutting infrastructure charges.
Posted by Craig Francis
